RBI had cut interest rate by 25 basis points each in February and April to boost economic growth. In a report on the forecast for global monetary policy actions and resulting economic impact, the London-based global information provider said RBI is likely to tighten its monetary policy stance in early-to-mid 2020. "With both domestic and global growth slowing and inflation in India remaining below the RBI's inflation target, it is now increasingly likely the RBI will proceed with another rate cut in June. Other central banks like in Mexico, India, Indonesia, and the Philippines followed suit. With growth and inflation expected to remain low, the risks to the interest rate outlook are skewed to the downside," the report added.

Source: Mint May 08, 2019 07:52 UTC