The slowdown in inflation towards the lower end of the Reserve Bank’s target range as consumers contend with a shrinking economy and uncertainty over incomes is unlikely to shift its stance to keep interest rates on hold, economists have said.
Though the muted inflationary environment may weigh in favour of another cut in the repo rate from a record low 3.5%, some economists believe the Bank is likely to be cautious about adding to a combined three percentage points of reductions in 2020, one of the most aggressive moves in emerging markets.
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