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Ahead of the Reserve Bank of India’s (RBI) monetary policy review on June 2, Finance Minister Arun Jaitley said the time is right for an interest rate cut. “My views are well-known,” he said, when asked if was time for a cut. “It is.”
A cut in interest rate is expected, as retail inflation was at a four-month low of 4.87 per cent in April. The RBI decides changes in the rate on the basis of the trend in retail inflation.
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