As expected, the Reserve Bank of India has cut its benchmark interest rate to 7.5% from 7.75%,...

|By:, SA News Editor

As expected, the Reserve Bank of India has cut its benchmark interest rate to 7.5% from 7.75%, the second reduction this year, as it looks to boost faltering economic growth. The move comes despite consumer inflation of 10.9%. "Even as the policy stance emphasizes addressing the growth risks, the headroom for further monetary easing remains quite limited," the RBI said. (PR)