Amid the backdrop of high inflation, the Reserve Bank may not cut interest rates in its month-end policy review to boost industrial growth which slipped to 2.4 per cent in May, say experts.
"I do not think there will be either infusion of liquidity or cut in policy rates by the RBI in its quarterly policy review," HDFC Bank chief economist Abheek Barua said.
The index of industrial production (IIP)-- gauge of industrial activity in terms of production -- showed a 2.4 per cent growth in May, down from 6.2 per cent a year ago.
Although the industry has been pitching for cut in interest rates by the RBI in its policy review on July 31, the experts are of the view that the central bank may continue with the status quo stance in view of inflation which is still much above the comfort level of 4-5 per cent.
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