MUMBAI: The Reserve Bank of India (RBI) cut its policy interest rate to a 4½-year low of 6.75% yesterday in a bigger-than-expected move that, with inflation running at record lows, could help an economy in danger of slowing down.
A Reuters poll last week showed only one out of 51 economists had expected a 50 basis points (bps) cut in the repo rate, while 45 had expected a 25 bps cut, the same magnitude as previous three cuts this year.
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