MUMBAI: India’s central bank delivered a back-to-back interest rate cut to support a sluggish economy a week before elections kick off.
The repurchase rate was lowered by 25 basis points to 6%, a decision predicted by all but two of the 47 economists surveyed by Bloomberg News. Four of the six members of the Monetary Policy Committee voted in favor of the rate move, and five voted to keep the neutral policy stance.
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