India’s central bank cuts interest rates more than expected
India grew at a notably slower-than-expected 5.8% annual pace in the first quarter, and most analysts expect data due later in August to show growth in the second quarter fell even further
07 August 2019 - 18:03
Mumbai — The Reserve Bank of India (RBI) lowered its benchmark interest rates for a fourth straight meeting on Wednesday, with a slightly bigger than expected cut underscoring its worries about India’s near-five year low economic growth pace.
The six-member monetary policy committee (MPC) cut the repo rate by an unconventional 35 basis points (bps) to 5.40%, just above a 25 bps cut predicted by 80% of the 66 analysts polled by Reuters in July...
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