By Dipti Deshpande After a five-month pause, the Monetary Policy Committee (MPC) of the Reserve Bank of India reduced the repo rate again. This action was complemented by additional liquidity-easing measures aimed at speeding up transmission to the real economy at a time when growth expectations are slowing amid elevated US tariffs. The policy stance was kept at neutral, but the sharp decline in inflation forecasts hints at a dovish outlook. Another 25 basis points, akin to the June cut, now brings the repo to 5.25%. But the effect on market interest rates is likely to be amplified by the nearly Rs 1.5 lakh crore of liquidity infusion through open market purchases of government securities (Gsecs) and the dollar-rupee buy/swap arrangement in December. These measures are expec

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