RBI Opted For Outsized Rate Cut to Boost Growth, Minutes Show
India's central bank governor said that front-loaded interest rate cut and the cash boost would support the Indian economy amid global uncertainties, minutes of the central bank's monetary policy meeting showed Friday.
The Reserve Bank of India's rate-setting panel delivered an out-sized 50 basis points interest rate cut earlier this month and announced a liquidity measures for the banking system. The six-member monetary policy committee also simultaneously shifted its policy stance to neutral from accommodative, indicating limited room for further easing.
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