There could be more interest rate cuts by the Reserve Bank of India (RBI) as some of the members of the monetary policy committee have observed that growth is yet to bottom out, even as two members have pointed out rising inflation expectations.
“This pronounced cyclical downswing suggests that the state of the economy will likely get worse before it gets better,” M.D. Patra, one of the internal members, said.
The minutes of the October monetary policy meeting were released on Friday.
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October 19, 2019