Tag: interest rates
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RBI slashes key rate by 40 bps to an all-time low, Predicts GDP shrinkage
On Friday, the Reserve Bank of India (RBI) announced cut in key interest rates by 40 basis points, to a new all-time low. This decision came unexpectedly as RBI is citing negative GDP growth in the current fiscal period. This is a double blow to the economy as the effect on low production and demand ...