New Delhi: Experts have speculated that the RBI may reduce policy rates once. If cut, this would be the fifth consecutive reduction in interest rates. Since January, the central bank has cut the repo rate by 1.10 per cent in four times. Earlier in the last monetary review in August, the Reserve Bank had reduced the repo rate by 0.35 per cent to 5.40 per cent. The government has taken steps to cut the corporate tax rate and increase the offtake of debt to strengthen the economic conditions in the coming festive season.
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The fourth bi-monthly monetary review for the current financial year will be announced on October 4, headed by RBI Governor Shaktikanta Das. The RBI has directed banks to link their loan rates to the repo rate from October 1. Before the monetary review meeting, the Financial Stability and Development Council (FSDC) sub-committee headed by Das discussed the macroeconomic situation.
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Experts say that the government's hands are tied and now the central bank has to take the initiative. In such a situation, another cut in interest rates is certain. CBRE Chairman and CEO (India, South East Asia, West Asia and Africa) Anshuman magazine said that the government has taken several steps to accelerate the Indian economy during the past few weeks.