RBI likely to hold rates for 11th straight time: Business Standard poll

May cut cash reserve ratio, lower growth and inflation projections

Notwithstanding gross domestic product (GDP) growth plunging to 5.4 per cent in the July-September quarter, the Reserve Bank of India’s (RBI’s) six-member monetary policy committee (MPC) is unlikely to lower interest rates in its review meeting scheduled this week, according to a Business Standard poll of 10 respondents.

 

Only one respondent, IDFC First Bank, has anticipated a 25-basis-point (bps) cut in the policy repo rate.

 

After raising the repo rate by 250 bps to 6.5 per cent between May 2022 and February 2023, the MPC has kept it unchanged in its last 10 reviews.  

Most respondents, however, said both growth