Central Bank of India again lowered the key rate and worsened the forecast for GDP growth and inflation

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The Reserve Bank of India announced that at its regular meeting on Thursday it had decided to lower the key rate again. Following the previous meeting, the bank has already lowered the rate. Now, the repo rate has been lowered by 25 basis points and is 6% per annum, which coincides with the forecasts of most experts. The regulator’s statement says that boosting domestic demand requires stimulating private investment in order to counter negative factors at the global level. India recorded in the fourth quarter of last year the minimum GDP growth rate over 5 quarters, while the economy increased by 6.6%. The RBI forecast for the fiscal year, which ends in March 2020, has been lowered from 7.4% to 7.2%. Now the Central Bank is also waiting for a reduction in inflation to 2.9-3% from the previously expected 3.2-3.4%

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