RBIs repo, reverse-repo rates likely to be cut by 25 bps: IBA
Written by Banking Bureau
| Mumbai, Jan 25 | Updated: Jan 26 2008, 05:55am hrs
Indian Banks Association (IBA) expects a 25 basis-point cut in both repo as well as reverse repo rates when the RBI announces its third quarter review of its monetary policy on January 29. The repo and reverse repo rates are currently at 7.75% and 6%. However, IBA does not expect any hike in interest rates as well as CRR, which is currently at 7.5%. Talking to reporters on Friday, HN Sinor, CEO, IBA, said: We cant remain decoupled from the ongoing recession in the US. It was despite the fact that India was having its own economic conditions that were different from the economic scenario prevailing in the US.