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1st LD Writethru: India cuts key lending rates

Xinhua, March 4, 2015 Adjust font size:

In a surprise move, India's central bank, Reserve Bank of India, Wednesday cut its key lending rates by 25 basis points.

The repurchase (repo) rate stands reduced to 7.5 percent from 7. 75 percent, while the reverse repo rate has been adjusted to 6.5 percent from 6.75 percent.

"To summarize, softer readings on inflation are expected to come in through the first half of 2015-16 before firming up to below 6 percent in the second half," Reserve Bank of Governor Raghuram Rajam said in a statement. Endi