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The Reserve Bank of India cut its policy rate by another 25 basis points today. With the prevailing accommodative stance, one more rate cut looks more likely than not at the December meeting.
Getting ahead of the easing curve
In line with the solid consensus, the Reserve Bank of India ((RBI)) delivered yet another 25bp policy rate cut at its bi-monthly policy review concluded today. It was also a unanimous decision by all six Monetary Policy Committee ((MPC)) members, while one of them wanted an even deeper cut of 40bp.