The Reserve Bank of India (RBI) will announce its third bi-monthly monetary policy statement for FY 2019-20 in Mumbai today. 

The three-day meeting of the monetary policy committee (MPC) began on Monday amid expectations of yet another 25 basis points cut in lending rate to boost the slowing economy. 

During the present calendar year, the Reserve Bank has slashed the repo rates by 0.75 per cent or 75 basis points including a 25 bps cut in three MPC meetings held in February, April and June 2019. 

In its June policy review, while reducing the rate for the third time in a row, the RBI had signaled more easing as it looked to support an economy growing at the slowest pace since the BJP first came to power in 2014. 

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