Business RBI Monetary Policy: BofAML believes more rate cuts coming. Here's why Updated : November 18, 2019 01:41 PM IST Bank of America Merill Lynch (BofAML) is of the view that the MPC will still cut 40 bps more in FY20. RBI MPC should still cut 25 bps on Dec 5 and 15 bps in February to support growth, said the investment bank in a report. BofAML tracks November CPI at 5 percent and inflation between November 2019-February 2020 at 4.7 percent. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.