RBI Governor Shaktikanta Das can announce the policy rate at 12 o’clock today. RBI gave this information in a tweet. According to a Reuters poll, two-thirds of economists believe the repo rate may be cut. According to the economist’s estimate, despite the repo rate being at a record low rate of 3.50%, RBI can cut it by 25 basis points i.e. 0.25%. In the recent past, the focus of RBI policy has been on increasing growth. RBI has already cut the repo rate by 1.15% since February. Earlier, the RBI had cut the repo rate by 1.35 per cent last year.
In June this year, the annual inflation rate increased to 6.09 percent from 5.84 percent in March. This is more than the RBI’s medium term target. This target of RBI is 2-6 per cent.
Furthermore after covid -19 Business activity RBI is steadily making progress on the rates to maintain the business activity.To run thee business activity and confidence. RBI may likey to make decision further.
Nifty in the early trades hovering near 11200 levels, near yesterdays high, Which was at 11225 .