There are a lot of triggers for the market but participants seem to be in a fix. They are reluctant to take a call on the interest rates for now.
The Delhi-based Institute of Economic Growth has already forecast a cut in the bank rate citing the liquidity glut and the disparity between the lending and deposit rates of banks, which is acting as a hindrance to credit growth.
Market participants are expecting a fresh repo rate cut of at least 25 basis points, saying the indications towards this are the RBI