RBI cuts main rate again as growth fears deepen
Central bank revises down growth and inflation forecasts as election nears
The Reserve Bank of India’s monetary policy committee made its second consecutive rate cut today (April 4), voting by four to two to cut rates.
The MPC’s announcement cited a worsening economic outlook as a key reason to cut the main rate 25 basis points to 6%. Policy-makers noted growth had disappointed, with high-frequency indicators pointing to a slowdown in manufacturing and “subdued” investment demand. Credit flows to small businesses were “muted”.
“Overall, the output gap remains
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