RBI to announce monetary policy today; rate cut unlikely

The Reserve Bank will announce the bi-monthly monetary policy on Friday amid expectations of a 25-basis point reduction in interest rate.

Some experts, however, are of the view that the central bank may maintain the status quo on the repo rate for the third consecutive time. Governor Sanjay Malhotra will announce the decision of the Monetary Policy Committee (MPC) on Friday morning, the RBI said.

The MPC started its three-day deliberation on the next set of bi-monthly monetary policy on Wednesday. The meeting is taking place against the backdrop of falling inflation, rising GDP growth, the rupee crossing 90 against the dollar and ongoing geopolitical tensions.