India | RBI eases interest rates by 50 bps, steps up financial market reforms

Summary

The Reserve Bank of India today surprised positively by cutting the benchmark repo rate by 50 bps to 6.75%. The decision was accompanied by a series of financial reform measures including a clear medium term framework for foreign portfolio investment limits in debt securities. RBI’s rate cutting cycle is not yet over although a status quo is likely at its next meeting.

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