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RBI likely to cut policy rates by 0.25% on 2 June, says Citigroup

May 27, 2015    

New Delhi: The Reserve Bank is likely to cut policy rates by 0.25 percent in its upcoming policy review meet next week, a Citigroup report said today. According to the global financial services major, there is a strong case for 25 basis points (bps) cut in interest rates, especially since macroeconomic data such as PMI and IIP, non-oil exports and credit growth has not been encouraging."Following status quo in the April meeting, we expect RBI to cut policy rates by 25 basis points in its upcoming 2 June meeting (from 7.5 percent to 7.25 percent)," Citigroup India economist Anurag Jha...

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