RBI to announce second bi-monthly monetary policy today

Reserve Bank of India will announce its second bi-monthly monetary policy for current fiscal year in Mumbai this morning. 

The three day meeting of the monetary policy committee (MPC) began on Tuesday amid expectations of a third straight rate cut of 25 basis points. 

The key lending rate or the repo rate currently stands at 6 percent. AIR



reports correspondent that it is believed that RBI has enough room to cut rates further as inflation has remained below the RBI's medium-term goal at 4 per cent. 

The CPI inflation for April 2019 stood at 2.92 percent. 

The rate cut is also likely to revive the economy that is going through a slowdown.