Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Economy India cuts key rate in surprise move ahead of election New RBI governor stresses objective of supporting growth The Reserve Bank of India's new governor, Shaktikanta Das, center, cited lower-than-expected inflation and a slowdown in China as reasons for its surprise rate cut on Feb. 7. (Photo by Ken Koyanagi)
ROSEMARY MARANDI, Nikkei staff writer February 7, 2019 15:43 JST Updated on February 7, 2019 19:15 JST | India
MUMBAI -- The Reserve Bank of India's Monetary Policy Committee on Thursday decided to cut the policy repo rate by 25 basis points to 6.25% on forecasts for lower inflation.
The surprise move comes as a tailwind for Prime Minister Narendra Modi, with general elections due by May.
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