The Wholesale Price Inflation stood at 1.77 percent for the October which marks the lowest in last five years while the food inflation fell to a nearly two and half years low of 2.7 percent. This fifth consecutive drop of Inflation in a row after a long time.

Now all eyes are on Reserve Bank of India which will come with its monetary policy review on December 2nd. The trade analysts are looking for drop in the policy rate which would ease the interest rates. However, RBI Governor Raghuram Rajan wants to be tough on the policy rate and it would be dropped only in the mid of 2015.

(AW: Vamshi)