NITI Aayog Vice-Chairman, Arvind Panagariya has expressed that RBI is likely to cut interest rate by 0.5 %. It is also likely to announce bi-monthly review on 29^th September to cut interest rate to boost growth. This was dependent on the decision of the US Federal Reserve which has not brought any changes on the same, thereby bringing positive response in the market.

Views:

The decision of the federal reserve gives more room to emerging markets to adjust their policies thereby stabilising the economy.