New-look MPC will wait until December to cut rates

Little is known about the monetary policy views of the Reserve Bank of India’s incoming MPC members, but the fact that two of the committee’s doves have been replaced suggests that the repo rate will remain on hold at 6.50% at the conclusion of its meeting on Wednesday 9th October. However, by December, the case for policy easing will be too compelling for the new-look MPC to brush aside.

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