New RBI Governor Takes Measured Tone With First Rate Cut
- Monetary policy panel votes unanimously to lower rate by 25bps
- Central bank projects GDP growth of 6.7% in coming fiscal year
Outside the Reserve Bank of India (RBI) headquarters building in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
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India’s new central bank governor cut interest rates for the first time in almost five years to help spur a slowing economy, providing a measured tone that disappointed some investors seeking more proactive steps.