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Economists urge RBI to cut interest rates by at least 50 bps

by Mansur Khan on 2019-08-09T19:18:20+05:30 in RBI | Comments

Economists have recommended a 50 basis points (bps) reduction in the repo rate by the RBI. They are of the view that a rate cut is necessary to boost consumption demand as investment is not to revive anytime soon. The former member of the Prime Minister's economic advisory council (PMEAC) Surjit Bhalla, Bank of America Merrill Lynch's chief economist Indranil Sen Gupta and Kotak Mahindra Bank's senior economist Upasana Bhardwaj have recommended to the RBI to maintain its accommodative stance. While Bhalla has supported a 100 bps rate cut, Gupta expects the RBI to reduce policy rates by 50 bps by March 2020. Read Miore

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