When Mint Street announces its interest rate decision on Thursday, it would look beyond India with as much keenness as it would at the data points generated at home.
Globally, central banks are now seeking to be far more accommodative, as data from the major economies point to slowing economic growth.
US Fed Chief Jerome Powell has recently said that the risk of galloping inflation has diminished.
The US unemployment rate dropped to a five-decade low of 4 per cent but neither did the wages accelerate, nor did the economy show signs of overheating.
The euro zone is slowing and some parts like Italy are experiencing high unemployment.
The chances of a rate hike there anytime soon is probably remote.
Japan is experiencing growth but inflation is stubbornly refusing to move.
The Fed stance may also prompt several central banks in Asia to go easy.
Thailand has kept its interest rate unchanged, while economists believe India, Indonesia and the Philippines could start signalling a southward journey for their benchmark rates.