RBI cuts repo rate by 25 bps, changes stance to ‘accommodative’; raises hopes for more cuts

Highlights of the RBI’s monetary policy announcement > RBI to do away with payment charges on RTGS, NEFT transactions > rbi lowers gdp growth target to 7% from 7.2% for FY20 > MPC cuts repo rate by 25 bps, changes policy stance to "accommodative" * Repo rate reduced by 25 bps to 5.75 percent for third time in a row

The inflationary trend could rule out any chance that the RBI will cut the repo again, after lowering it by 25 basis points. no changes until at least early 2019. “We expect the MPC to keep rates.

Hopes of RBI deviating. it changes its position from accommodative to neutral. It should be noted that between January 2015 and April 2017, weighted average lending rates slid by 169 basis points.

Robert Prior Wandesforde of Credit Suisse, in an interview to CNBC-TV18, says with inflation numbers extremely high it is likely the central bank will hike rates. “The RBI may raise rates by 50 bps.”.

Analysts said they still see scope for rate cuts as inflation. voted for the 35 bps cut, while two voted for a 25 bps cut, the RBI said. All members voted to keep the policy stance at.

RBI cuts repo rate by 25 bps, checkout these 14 highlights from the monetary policy statement The central bank also changed its policy stance from ‘neutral’ to ‘accommodative’. Share Via Email

“While FICCI had hoped for a larger cut in the repo rate, we believe that the cut of 25 basis points will be. 25 bp are progressive steps. More rate cuts are expected in the next meeting, as RBI.

"The RBI policy announcement is exactly on the same lines as expected by most of the market participants. The repo rate cut of 0.25 % and the change of stance from neutral to accommodative is key to supporting the sagging economic growth. The projected growth has been lowered to 7%.

RBI cuts repo rate by 25 bps to 6%, loans may get cheaper. In May, the bank cut rates on home loans of up to Rs 30 lakh by 25 basis points (0.25 per cent) for new borrowers in a bid to cash in on the demand generated by the Narendra Modi government’s efforts to push for affordable housing. The rate was reduced to 8.35 per cent from 8.60 per cent.

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