MUMBAI: The Reserve Bank of India (RBI) has cut its key repo rate for a second consecutive time and has changed its monetary policy stance to “accommodative” from “neutral” to boost the sluggish economy, which is facing further pressure from US tariffs.
As expected, the Monetary Policy Committee (MPC), which consists of three RBI and three external members, cut the repo rate by 25 basis points to 6%. It started reducing rates with a quarter-point reduction in February, its first cut since May 2020. All six MPC members voted to cut the repo rate.
