The Reserve Bank of India on Friday cut interest rates for a fifth straight meeting this year, stepping up its efforts to kickstart an economy growing at its slowest pace in six years. The central bank, which also downgraded its 2019-20 growth forecast, said it will maintain its current “accommodative” policy stance “as long as it is necessary” to revive growth, and ensure inflation remains within target. The six-member Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 5.15%, in line with expectations in a Reuters poll. …read more
Source:: Yahoo Finance
