May 30, 2020

Responding to coronavirus crisis, India slashes rates

Responding to coronavirus crisis, India slashes ratesThe Reserve Bank of India slashed interest rates on Friday, following other central banks that have taken emergency measures to counter the economic fallout from the fast-spreading coronavirus pandemic. The six-member monetary policy committee (MPC) met earlier in the week to arrive at the decision. "The MPC noted that macroeconomic risks both on the demand and supply side brought on by the pandemic could be severe," Governor Shaktikanta Das said via video conference.


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