Joined Nov 11, 2007
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India Cuts Interest Rates to Spur Growth

India cut interest rates for a third straight meeting to revive growth, extending the only reduction in borrowing costs among major emerging nations this year.

Governor Duvvuri Subbarao lowered the repurchase rate to 7.25 percent from 7.50 percent, theReserve Bank of India said in Mumbai today, as 33 of 40 analysts in a Bloomberg News survey predicted. One forecast 7 percent and the rest no change after quarter-point reductions in both January and March….”

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