RBI likely to cut policy rate by 25 basis points on August 9: BofA-ML
According to global financial services major Bank of America Merrill Lynch (BofA-ML) investors should not read much into the higher May Consumer Price Index (CPI) inflation print at 5.76% as it was entirely driven by higher agflation (agricultural inflation).
A worker pushes a wheelbarrow inside the Reserve Bank of India (RBI) head office in Mumbai, India, April 5, 2016. Image Source: Reuters/Danish Siddiqui