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BofA-ML expects no rate cut from RBI until rupee stabilises
July 3, 2013July 3, 2013by In Infrastructure Finance

BofA-ML expects no rate cut from RBI until rupee stabilises

In its recent report, Bank of America Merrill Lynch (BofA-ML) opined that the Reserve Bank of India (RBI) may not reduce policy repo rate until the volatility in the currency market subsides. According to the brokerage, the central bank may prefer to reduce Cash Reserve Ratio (CRR) by 25 basis points on July 30 instead of cutting policy rates if the Indian currency remains