RBI cuts main rate again as growth fears deepen

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The Reserve Bank of India’s monetary policy committee made its second consecutive rate cut today (April 4), voting by four to two to cut rates.

The MPC’s announcement cited a worsening economic outlook as a key reason to cut the main rate 25 basis points to 6%. Policy-makers noted growth had disappointed, with high-frequency indicators pointing to a slowdown in manufacturing and “subdued” investment demand. Credit flows to small businesses were “muted”.

“Overall, the output gap remains

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