RBI cuts 25 bps, lifts liquidity; expect to cut more

Summary

The Reserve Bank of India today cut its benchmark repo rate by 25 bps to 6.5%, in line with expectations; and positively surprised by boosting and streamlining liquidity in the Indian banking system. Looking ahead, we think RBI’s rate cutting cycle isn’t over yet with a one last 25 bps rate cut expected at its next meeting on June 7th.

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