Amid wild speculation that the Reserve Bank of India (RBI) may follow its global peers and announce an emergency rate cut, the banking regulator has called a press conference at 4 pm on Monday. The US Fed announced the second major benchmark rate cut in a month on Sunday to provide liquidity to the economy and stave off a recession arising from spraed of coronavirus. Its peers in England, Australia, New Zealand, European Union have also effected similar rate cuts.
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