Voices for interest rate cut within RBI’s rate-setting panel growing

MUMBAI: Voices for interest rate cut are growing within the Reserve Bank’s rate-setting panel with external member Ashima Goyal joining ranks with another member Jayanth R Varma who for long has been advocating to reduce the key policy rate by at least 25 basis points.

Reserve Bank’s monetary policy committee voted for a status quo in repo rate with four members voting in favour and two against.

“Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 per cent.

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