The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy. The central bank forecast real GDP growth for next fiscal year at 6.

New central bank governor Sanjay Malhotra loosens monetary policy despite high inflation hitting consumer spending

The Reserve Bank of India cut its policy rate for the first time in nearly five years as economic growth slows and inflation cools.

The Reserve Bank of India has cut its key interest rate for the first time in nearly five years, as cooling inflation has offered room to stimulate the slowing economy. The Monetary Policy Committee decided to trim the repo rate by 25 basis points to 6.