RBI governor Rajan to announce monetary policy today

June 07, 2016 08:49

RBI Governor Raghuram Rajan will announce today the second bi-monthly monetary policy review of the current financial year, at a time when he has been attacked for alleged failure to lower interest rates and boost the economy.

Making Reserve Bank of Indias first policy review of the financial year in April, Rajan had cut the central bank's repo, or short-term rate at which it lends to commercial banks, by 25 basis points to 6.5 per cent.

Though not much is expected from the RBIs monetary policy review meeting, the general expectation is that governor Rajan will be in a wait-and-watch mode.

RBI will likely pause key policy repo rate at 6.5%. This may not trigger an immediate reduction in EMIs for loan borrowers but banks may nevertheless look at lending rate cut in the coming months.

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