MUMBAI (Reuters) - A substantial fall in global commodity prices allowed the Reserve Bank of India (RBI) to front-load interest rate reductions with a better-than-expected 50 basis point cut on Tuesday, RBI Governor Raghuram Rajan said on Tuesday.
The RBI cut its policy interest rate to a 4-1/2 year low of 6.75 percent, in a move that, with inflation running at record lows, could help an economy in danger of slowing down.
Rajan however cautioned that India would have to steer through "tubulent waters" for a while longer, and added the central bank was focused on making India more robust to support strong growth.
(Reporting by Mumbai Newsroom; Editing by Simon Cameron-Moore)
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