The Reserve Bank may reduce interest rates at its fourth October meeting

(PTI) Mumbai, Ta. September 29, 2019, Sunday

The Reserve Bank of India is likely to cut interest rates at its meeting Friday to boost economic activity and increase credit offtake during the festive season and high inflation. The Monetary Policy Committee, headed by Reserve Bank Governor Shashikanta Das, will announce a fourth quarterly monetary policy on Friday for the year 2019-20 at the end of the three-day meeting.

The RBI has reduced short-term borrower rates by 1.10 per cent four times in January, four times since January. The next MPC meeting will have an external benchmark with external benchmark like RBI's repo rate for faster transmission of policy rates for borrowers from October 1st. MPCA RBI's benchmark lending rate an extra 35 points It was reduced. Akander had thus reduced by 5.40%.

The next meeting of the first DAS-led Financial Stability and Development Council discussed the current macroeconomic situation. With this, it was hoped that the Reserve Bank would provide more financial support to boost the country's economy.