New Delhi, April 4 -- The Reserve Bank of India's (RBI) monetary policy committee cut the repo rate by 25 basis points in February to 6.25 per cent, its first reduction in nearly five years. RBI appears on track for another round of monetary easing in its next policy meeting, scheduled to take place from April 7-9, and may again go for a rate cut of 25 basis points, according to Citibank's latest forecast.

This follows the projections by JP Morgan and Nomura. Bank of America's Global Research also expects the repo rate to reach 5.5 per cent by the end of the year since RBI has room to cut rates in view of non-inflationary growth and subdued price pressures.

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This means the banking regulator will c...