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India's central bank cuts key interest rate to 6.75%

Reserve Bank of India.jpg
The Reserve Bank of India (RBI) lowered the benchmark repo rate - the level at which it lends to commercial banks - to 6.75 per cent, a larger cut than analysts had expected.

[MUMBAI] India's central bank cut interest rates by 50 basis points on Tuesday in a bid to boost stuttering growth, with inflation well below its target level.

The Reserve Bank of India (RBI) lowered the benchmark repo rate - the level at which it lends to commercial banks - to 6.75 per cent, a larger cut than analysts had expected.

AFP