India's central bank cuts key interest rate to 6.5%

[NEW DELHI] India's central bank on Tuesday cut its key interest rate by a quarter of a percentage point to 6.5 per cent, a five-year low, in line with expectations.

The Reserve Bank of India said it would lower the benchmark repo rate, the level at which it lends to commercial banks, by 25 basis points from the previous rate of 6.75 per cent.

AFP