All eyes are on the Reserve Bank of India's (RBI) monetary policy decision later today. Economists expect the monetary policy panel to bring down the key interest rates by a quarter percentage point. Jahangir Aziz, head of EM economic research at JPMorgan, shared his take.“My guess is that this is not a central bank or this is not a monetary policy committee (MPC) that typically will do a 50 basis points (bps) rate cut. I think they will do a 25 bps rate cut. After this 25 bps rate cut for this policy, we have three more rate cuts,” he said.When asked if RBI will be scaling down its full-year gross domestic product (GDP) forecast, he replied, “I don’t think they will announce any major liquidity supporting facilities. It will be – well we will watch how it turns out and we will provide adequate liquidity.”On the US-China trade war, he added, “If you look at how trade war has progressed and where the trade war stands right now – which is China breaking 7 and US responding to it which more or less puts an end to any further negotiation. We are looking at about 7.35-7.40 per dollar for yuan for the end of the year.”On the Indian currency, he said, “We are focussing way too much on the dollar. If you look at the INR/CNY rate, for the last 18 months it has been kept almost stable.”"Expect rupee to go to 71 per dollar or beyond that", Aziz said.