The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday. Photo: AFP
The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday. Photo: AFP

India’s central bank cuts interest rates and changes monetary policy stance to ‘accommodative’

  • All six members of the Reserve Bank of India monetary policy committee agreed to cut the policy interest rate by 25 basis points to 5.75 per cent on Thursday
  • Central bank also changes its policy stance from ‘neutral’ after Asia’s third largest economy grew at just 5.8 per cent annually in the first quarter of 2019

The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday. Photo: AFP
The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday. Photo: AFP
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