Won't influence RBI for low rates: FM

Pitching for an in terest rate cut to boost growth, finance minister Arun Jaitley on Friday said everyone including policy planners wants lower rates, but emphasized he would not like to influence RBI's decision on the issue Stock Market Trading Tips 

Asked if the status quo by US Federal Reserve could prompt RBI to cut interest rate, Jaitley said, "RBI is managed very professionally, they look at all the figures and developments, both internal and external environment, and take their own decision." 

RBI is scheduled to come out with its fourth bi-monthly policy review for the fiscal on September 29 and with uncertainty getting over with regard to the US Fed rate, the central bank may yield to the pressure of easing rates Himanshu Tiwari Astrologer Blog

"Any policy planner would like a cheaper cost of capital, but that's not a decision which I would like even to influence at this stage because it's a decision which RBI has to take," Jaitley told TV channels. RBI governor Raghuram Rajan had earlier said the central bank will be closely watching the decision of the US Federal Reserve. 

Meanwhile, describing the decision of the US Fed to maintain status quo a 'nonevent', NITI Aayog vice-chairman Arvind Panagariya expressed the hope that the RBI will cut interest rate by 0.5%. Earlier in the day, minister of state for finance Jayant Sinha said in New Delhi that there is a "favourable" environment for monetary policy action by RBI Indian stock market astrology prediction