RBI set for third interest rate cut of the year

Mumbai

INDIA's central bank is expected to cut interest rates for a third time in five months when it meets this week, confident that inflation is stable enough to weather the summer monsoon.

The Reserve Bank of India (RBI) has already lowered its benchmark repo rate, the level at which it lends to commercial banks, by 50 basis points to 7.5 per cent this year.

And analysts believe the RBI will snip rates again a…