RBI Governor Shaktikanta Das said that there exists space for future rate cuts if the inflation evolves in line with RBI’s expectations. In the minutes of the Monetary Policy Committee meeting, Shaktikanta Das added that space needs to be used judiciously to support recovery in growth while the ongoing transmission of past monetary policy actions would help ease financial conditions further. He further said that taking into account the projected moderation in inflation and the large output loss, the policy rate was kept unchanged at present and the Reserve Bank will continue with the accommodative stance, during the current financial year and into the next financial year at least.