NEW DELHI: The Reserve Bank of India (RBI) is likely to go for one more rate cut in the coming months as inflation expectations have dropped sharply, a new report said on Tuesday.
The data compiled by the Bank of Baroda said that while the RBI has so far kept the repo rate unchanged at 5.5 per cent, there is still room for further easing to support growth.
The report added that a reduction in GST rates and festive season spending will play a major role in driving India’s economic growth in the ongoing quarter.
These factors are expected to give a strong push to consumption and help offset global headwinds.