|Photo: Live Mint|
The RBI has set consumer price index (CPI) target for January 2015 at 8 per cent and 6 per cent for January 2016. With CPI falling for the past four months and at 6.46 per cent for September, the RBI in its policy announcement on December 2 could cut rates.
Last week, HSBC Services PMI data was disappointing with the data falling on the back of weaker growth in the new business orders. The data fell to 50 in October 2014 from 51.6 in September 2014. A level above 50 shows an expansion.
Courtesy: Business Today