RBI may lower repo rate even if retail inflation remains high

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Mumbai, Ta. November 14, 2019, Thursday

While retail inflation is expected to rise further to five per cent in November, the Reserve Bank is likely to reduce interest rates twice due to development concerns, a report said.

Inflation, based on consumer price index, rose to 8.5 percent in October, which has led to concern over the RBI's attitude towards interest rates. The Reserve Bank's target is to keep the inflation rate at 5%.

In the June quarter of the current fiscal year, the country's economic growth rate fell to five-year low with a five-year low and is likely to decline in September as well.

The Bank of Merrill Lynch said in a report that the Reserve Bank will cut interest rates by 5.7% in February, following a 7.5% cut in December.

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