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
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Central Banks
The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday. Photo: AFP
China has stepped up capital controls as the trade war escalates. Photo: Kyodo
Why is US dollar access so restrained in China as trade war rages on?
- Foreign financial institutions increasingly reluctant to lend US dollars to Chinese banks given worries about financial risks amid the trade war
- China holding onto US dollars by increasingly restricting business and individual transfers out of the country
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China economy
China has stepped up capital controls as the trade war escalates. Photo: Kyodo