March 4, 2020 / 5:51 AM / 25 days ago

RBI has room to cut rates - government official

A security guard stands next to the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai, December 5, 2018. REUTERS/Francis Mascarenhas

NEW DELHI (Reuters) - India’s central bank has room to cut rates as inflation is set to decline in coming months, the government’s principal economic adviser, Sanjeev Sanyal, said on TV channel ET Now.

Sanyal said in the interview that inflation is likely to fall by at least 100 basis points and that easing interest rates is one of the tools available to shield the Indian economy from the impact of the coronavirus.

“Underlying inflation pressures are within control and headline inflation will come down sharply,” Sanyal told ET Now.

Reporting by Aftab Ahmed; Editing by Tom Hogue

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