India's central bank cut interest rates by a quarter percentage point to 6.25% in an effort to boost economic growth amid declining inflation. The Reserve Bank of India lowered its benchmark repurchase rate for the first time in four months to spur lending and increase spending. Economists expect consumer prices to continue moderating in coming months, giving the central bank room for further monetary easing.
India's central bank cut interest rates by a quarter percentage point to 6.25% in an effort to boost economic growth amid declining inflation. The Reserve Bank of India lowered its benchmark repurchase rate for the first time in four months to spur lending and increase spending. Economists expect consumer prices to continue moderating in coming months, giving the central bank room for further monetary easing.
India's central bank cut interest rates by a quarter percentage point to 6.25% in an effort to boost economic growth amid declining inflation. The Reserve Bank of India lowered its benchmark repurchase rate for the first time in four months to spur lending and increase spending. Economists expect consumer prices to continue moderating in coming months, giving the central bank room for further monetary easing.