Tue, 29 Jan 2013 12:25:04 GMT
India cuts the key interest rate by 25 basis points
The Reserve Bank of India cut the repo rate by 25 basis points to 7.75%, the first time in nine months. The central bank expects that the key interest rate cut will support economic growth, encourage investments and settle medium period inflation expectations. However, the bank representatives said that they see limited scope of further aggressive reduction regarding the higher