RBI cuts growth forecast, keeps key rate unchanged ...Middle East

The RBI’s monetary policy committee (MPC) on Thursday slashed its GDP growth estimate but disappointed markets and borrowers by keeping its key policy rate unchanged after reducing it five consecutive times in 2019. RBI retained the repo rate at 5.15% even as it cut its GDP growth estimate for 2019-20 by 110 basis points to 5% from 6.1% forecast two months earlier.

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