RBI cuts key lending rate by 25 bps to 5.75%

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.

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NEW DELHI: The Reserve Bank of India on thursday cut repo rate by 25 basis points amid weak global scenario and dip in private consumption. The repo rate has been reduced to 5.75% from previous 6%. The repo rate has been reduced to 5.75% from previous 6%.

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RBI cuts repo rate by 0.25% to 5.75%, changes policy stance to ‘accommodative’ Description: The MPC has also changed its policy stance to accommodative from neutral earlier which means the central bank keeps scope open for another rate cut in the near future if the economy warrants so.

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The RBI also cut reverse repo rate — the rate at which the central bank borrows money from commercial banks by 25 basis points to 5.75 per cent from 6 per cent.

The RBI cut the repo rate to 5.75% on June 6. "We expect another 25 bps cut later in 2019, which will push the policy repo rate down to 5.50%," Fitch wrote in its Global Economic Outlook report.

RBI cuts repo rate by 25 bps to 5.75%, changes stance to accommodative According to a Bloomberg Survey, 31 of 43 economists had projected 25 basis point rate cut while three penciled in a 50 basis points cut.

The RBI cut the repo rate to 5.75% on June 6, its third cut in 2019, while also changing its policy stance to “accommodative,” after data showed the economy growing at its slowest in over four years..

The six-member monetary policy committee (MPC) cut the repo rate to 5.75% as predicted by 44 of 66 analysts polled by Reuters last week.. Besides, the RBI changed the monetary policy stance from neutral to accommodative.. The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, auto loan and corporate borrowers.

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Reserve Bank of India cuts repo rate by 25 bps to 5.75%. The monetary policy committee (MPC) of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in.