The Reserve Bank of India will probably wait until the second quarter of next year to loosen policy as it wants to cool inflation before trying to spur growth, a Reuters poll found ahead of a policy review meeting next week.
All but three of 46 economists surveyed over the past week said the bank would leave its key repo rate unchanged at 8.0 percent when it meets on Sept. 30.
The survey showed that the RBI is also unlikely to alter either the statutory liquidity ratio (SLR), setting banks’ minimum bond holding requirements, or the cash reserve ratio (CRR) that sets the percentage of depositors’ balances that banks must keep with the central bank.
And 16 of 21 economists polled said it will not cut the ceiling on debt that must be held-to-maturity (HTM).
Analysts also pushed back expectations for when the first interest rate cut is likely to happen.
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