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India cuts rate again to lowest in 9 years as economy slows

Central bank joins global fight to keep trade war from dousing growth

Shaktikanta Das, the RBI governor, has been giving Prime Minister Narendra Modi's government breathing space.   © Reuters

MUMBAI -- India's Monetary Policy Committee on Thursday cut its key lending rate, the latest move by an Asian central bank to try to contain collateral damage from the U.S.-China trade war.

It was the third meeting in a row at which the Reserve Bank of India-led committee cut the repo rate by 25 basis points. The rate now stands at 5.75%, the lowest in nearly nine years. The decision was unanimous.

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