India cuts to two-and-a-half year low
The cut leaves the central bank's benchmark repo rate, the rate at which banks borrow from the institution, at 5.5% - its lowest level for two-and-a-half years. It also cut its reverse repo rate, the cost the central bank must pay for absorbing cash, to 6%.
The Reserve Bank announced the measure on Saturday.
It is the third cut in less than two months.
"Contrary to earlier expectations
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