The Reserve Bank of India, RBI will announce its first bi-monthly monetary policy review of the current fiscal today. All eyes will be towards the announcement of RBI Governor Raghuram Rajan about the key rates and cash reserve ratio in the backdrop of unseasonal rain and global geopolitical tension. The review is coming after the first full budget presented by Finance Minister Arun Jaitley. follows two previous unscheduled rate cuts since January which brought the repo rate down from 8 per cent by 50 basis points to the existing one. The interest rate cuts this year came after nearly two years. The consumer price index (CPI)-based inflation rose to 5.37 per cent for February, from 5.19 per cent in January and 4.28 per cent in December 2014. RBI Governor may signal his intention to continue easing his stance if the inflation trajectory points toward the ultimate target of 4 per cent.