RBI Cuts Key Lending Rate By 25 Basis Points, Third Consecutive Rate Cut In 2019
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RBI cuts rate, but doesn’t ease stance: what does it really mean. Four MPC members voted in favour of the 25 basis point (bps) cut while one was in favour of a 50 bps reduction and the sixth wanted no change. A basis point is 0.01 percentage point. In an ET poll of 20 market participants on the weekend, 17 had expected a 25 bps reduction.
As widely anticipated, RBI has once again reduced its key lending rate by 25 basis point. The lending rate now stands at 5.75, and this is the third consecutive rate cut since February 2019. Even though the Indian economy is perceived to be in the grips of a slowdown, the markets are quite bullish on Modi’s return to power with a thumping majority.
Continuing to deliver good news for borrowers, the Reserve Bank of India (RBI) has announced another repo rate cut by 25 basis points (bps). This is the third time in a row that the central bank has cut key rates this calendar year. Borrowers can hope for more rate cuts in the future as monetary policy stance has been changed from neutral to accomodative. However, this is bad news, especially for senior citizens dependant on income from fixed income instruments.
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· Repo rate is the rate at which the RBI lends money to commercial banks. A repo rate cut allows banks to reduce interest rates for consumers on loans, and lowers equal monthly instalments on home loans, car loans, and personal loans. The central bank also lowered its growth forecast for the economy for 2019-20.
RBI cuts repo rate by 25 basis points, EMIs likely to go down Mayur Shetty The Reserve Bank of India has cut its benchmark interest rate by 25 basis points to 7.25 percent.
The RBI on Thursday cut the repo rate by 25 basis points to 5.75 per cent – taking the policy interest rate down to a nine-year low – and immediately put pressure on banks to pass on the benefit to their customers through matching cuts in their lending rates.
As widely anticipated, RBI has once again reduced its key lending rate by 25 basis point. The lending rate now stands at 5.75, and this is the third consecutive rate cut since February 2019. Even.