RBI monetary policy review today, rate cut unlikely

December 01, 2015 09:15

The Reserve Bank of India is expected to keep interest rates unchanged at its bi-monthly monetary policy review on Tuesday amid lingering concerns over inflation, after having already cut the repo rate by a sharper 50 basis points at its last meet.

The RBI has also been cautious ahead of an expected rate increase by the US Federal Reserve, which meets in mid-December.

Inflation based on the consumer price index rose to 5 percent in October, from 4.41 percent in September, mainly on the back of rising food prices.

Analysts are of the view that the Reserve Bank of India is likely to wait for the Budget announcement before proceeding further.

The two key events the central bank is watching are the upcoming Fed event and the impact of the 7th Pay Commission recommendations.

There is a possibility that interest rates in the US might eventually go up for the first time since the global economic crisis of 2008. Federal Reserve rate-setters are meeting on December 15-16 to take a call on this.

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