Third RBI rate cut of year likely this week

The Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce its third consecutive rate cut this week, a Mint poll of economists and treasury heads found, after the economy grew at its slowest pace in four years amid persisting global uncertainties.

- Abirami S. & Gopika Gopakumar

MUMBAI: The Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce its third consecutive rate cut this week, a Mint poll of economists and treasury heads found, after the economy grew at its slowest pace in four years amid persisting global uncertainties.

Out of the 15 respondents, 14 said the central bank's rate-setting panel will unanimously vote for a 25 basis points repo rate cut to 5.75%, keeping the policy stance unchanged at accommodative. The MPC is expected to announce the decision on June 6.