 "RBI rate cut")
What Indonesia's central bank had done in January, the Reserve Bank of India (RBI) did on Friday — a policy rate cut despite the pressure of the local currency’s depreciation against the dollar.
Of course, there is a difference. While the rate cut in Southeast Asia's largest economy to fuel growth was unexpected, in India, the world’s fastest-growing major economy, it was on expected lines. As inflation is easing, the growth-inflation dynamics have changed in favour of a growth push.
The RBI reduced its policy repo rate by 25 basis points (bps) to 6.25 per cent in the first rate
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