Responding to coronavirus crisis, India slashes rates

Financial Post | Mar 27, 2020 at 6:23 AM
  • The Reserve Bank of India slashed interest rates on Friday, following other central banks that have taken emergency measures to counter the economic fallout from the fast-spreading coronavirus pandemic.
  • It cut the repo rate by 75 basis points to 4.40%, exceeding market expectations for a 50 basis point cut.
  • The last time RBI cut rates in an out-of-turn move was in March 2015 following a budget announcement.