India's central bank delivers 1st rate cut in nearly 5 years

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India's Central Bank Delivers First Rate Cut in Nearly 5 Years
MUMBAI (Reuters) - The Reserve Bank of India (RBI) cut its key repo rate on Friday for the first time since May 2020 to provide stimulus to the sluggish economy, which is expected to grow at its slowest pace in four years in the current fiscal year.
India’s central bank cuts rates for first time in nearly 5 years; signals less restrictive approach
The decision was in line with a Reuters poll, where over 70% of economists had predicted a quarter-point reduction, and marked the first reduction in India's key rate since May 2020
Indian shares set to open higher ahead of central bank policy decision
Indian shares are set to open higher on Friday, ahead of the Reserve Bank of India's (RBI) monetary policy decision, in which the central bank is widely expected to cut interest rates to support slowing economic growth.
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