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Rajan makes surprise cut in interest rates

Published Thu, Jan 15, 2015 · 09:50 PM

Mumbai

RESERVE Bank of India governor Raghuram Rajan has unexpectedly cut interest rates to help revive growth in Asia's third-largest economy after a slide in the inflation rate.

In an unscheduled review, Mr Rajan lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, he said in a statement, the first reduction since May 2013.

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Rajan makes surprise cut in interest rates

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