Thursday 10 March 2016

Interest Rate can be cut anytime now




Finance Minister Arun Jaitley on Monday stuck to the government's fiscal deficit target of 3.5 per cent for the forthcoming financial year, thereby putting at rest any worry about fiscal profligacy. The move effectively put the ball in the Reserve Bank of India's court, as it will now pressure the central bank to cut interest rates sooner. 

The Reserve Bank of India is expected to go for a 25 basis points rate cut on or before its scheduled policy review meet on April 5.

A 3.5 per cent fiscal deficit target will be pushing RBI to cut rate as early as possible, probably anytime in this month itself, by at least 25 basis points.

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