RBI policy today: Language, not rates, to be focus as GST, monsoon roll in

Central bank could revise inflation forecast downward; growth forecast could be revised too

The Reserve Bank of India (RBI) is widely expected to keep its policy rates unchanged at Wednesday’s monetary policy review. The rates are to be announced a few hours from now.

However, the policy stance could still be 'neutral', which would mean that the central bank is prepared to move rates on either side. The RBI had changed its stance in the February policy. Instead of action on rates, the language of the policy statement will be important in today's review. 

While the present set of numbers point towards an accommodative stance, the numbers can reverse their course by December