Little scope for further rate cut: RBI Guv

Reserve Bank Governor Sanjay Malhotra on Friday said there is very little scope for rate cut in the current circumstances after the central bank reduced the policy rate by 50 basis points, taking the total reduction to 100 bps since February.

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Addressing media after unveiling bi-monthly monetary policy, Malhotra said, future monetary policy actions will depend upon incoming data. “There is now very limited space for the monetary policy, actually, given the current circumstances...growth (projection) is about 6.5 per cent, inflation, we are projecting at 3.7 per cent for this year and above 4 per cent for the next next year...if these were to play out, there is very limited space,” he said. “We will continue to monitor the incoming data and we will