RBI may cut key policy rates by 25 bps in August: report

The central bank's next monetary policy review is scheduled for April 5.

BOJ keeps policy unchanged, slightly more upbeat on inflation outlook

BOJ maintained a pledge to guide short-term interest rates at minus 0.1 per cent.

The RBI has cut its policy rate by a total of 200 basis points from January 2015 to August 2017.

Industry argues rate cut would have propelled demand as interest rates remain unduly high.

Central bank in its October policy statement says inflation will go up by 0.50 per cent on such measures.

A strengthening rupee, which hit 65.03 against the dollar during the day, pepped up mood.

Central bank says GST rollout renders prospects for manufacturing sector uncertain in short term.

Broader Nifty was above key 9,850 level at 9,869.75, higher by 81.15 points.

RBI has made a priority of maintaining consumer inflation at around 4 per cent with a band of -/+2 per cent.

Weak economic growth and signs inflation may soon overshoot its target likely to weigh in on MPC meet.