Raghuram Rajan, RBI Governor will announce the third bi-monthly policy statement for 2016 on August 9.
NEW DELHI, 31st JULY 2016: The event assumes significance as it will be his last, since his tenure ends on September 4 and the next policy statement is due on October 4.
Retail inflation in June was 5.77 percent — almost at a two-year high and close to the upper end of the central bank’s inflation target of 6 percent — effectively ruling out the possibility of a rate cut. Analysts expect the repo rate (also policy rate) to remain unchanged at 6.50 percent.
Considering various macro economic trends including monsoon in India, experts believe that the Interest rates will remain untouched.