Markets open in the red ahead of RBI monetary policy review
September 29, 2015 09:31
Just in: Markets open in the red this morning. Sensex opens 290 points and Nifty opens 90 points down.
The Reserve Bank of India is expected to cut its key repo rate to a four-year low to help support the domestic economy at a time when consumer inflation is at a record low.
A Reuters poll last week showed 45 of 51 economists expect the RBI to cut the repo rate by 25 basis points to 7 per cent its lowest since May 2011. The RBI has already eased the policy rate by 75 bps so far this year.
The Reserve Bank of India is expected to cut its key repo rate to a four-year low to help support the domestic economy at a time when consumer inflation is at a record low.
A Reuters poll last week showed 45 of 51 economists expect the RBI to cut the repo rate by 25 basis points to 7 per cent its lowest since May 2011. The RBI has already eased the policy rate by 75 bps so far this year.