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India central bank lowers key policy repo rate by 25 bps to 7.5%

Workers putting up a billboard ad in Mumbai. The Reserve Bank of India caught markets off guard with its rate cut; traders had expected it to wait until a scheduled policy review on Apr 7.


INDIAN government bonds surged to their highest in nearly 20 months, while the rupee jumped to a one-month high on Wednesday after the central bank lowered interest rates, in a move that came earlier than expected.

India's central bank lowered its key policy repo rate by 25