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