RBI unlikely to cut interest rate on June 7, say experts

MPC may also refrain from rate cut as economic growth is picking up

MUMBAI: Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts.

The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023.

The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7. The decision will be announced on June 7 (Friday). Results of the Lok Sabha elections will be announced on June 4.