India's central bank cuts rates by 35 bps, more than expected

The Reserve Bank of India cut interest rates by an unconventional 35 basis points slightly above expectations on Wednesday, its fourth cut in 2019

MUMBAI: The Reserve Bank of India cut interest rates by an unconventional 35 basis points slightly above expectations on Wednesday, its fourth cut in 2019 to try to boost a sluggish economy growing at its slowest pace in nearly five years.

The RBI maintained its "accommodative" stance but said further rate reductions would depend on the level of inflation.