India’s central bank made a bigger-than-expected interest rate cut, lowering the repo rate by half a percent to 5.5%, the lowest level in three years.
This is the third rate cut in a row as the country faces slower growth and falling inflation.
RBI Governor Sanjay Malhotra said the economy is growing slower than expected and the bank wants to encourage more spending and investment amid global uncertainties.
India’s economy grew 6.5% last year, still the fastest among big economies, but down from 9.2% the year before. Inflation has dropped to a six-year low of 3.16%, helped by falling food prices.
The central bank also increased money supply but shifted its policy stance to “neutral,” meaning future rate changes will depend on how growth and inflation develop.
Lower rates should help consumers with cheaper home and car loans and support companies by cutting borrowing costs. This could also boost India’s struggling real estate market, especially affordable housing, as lower mortgage payments make homes more affordable.
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Canberra has issued a stark assessment of the changing security landscape in the Pacific, warning that Beijing is projecting force deeper into the region with diminishing transparency, complicating the delicate balance of power in the Southern Hemisphere.
The fate of the world’s largest nuclear power station hangs in the balance this month as local lawmakers in Japan decide whether to authorise a controversial restart, a move that would mark a significant pivot in the nation’s post-Fukushima energy policy.
Tensions surrounding Bulgaria’s imminent entry into the Eurozone boiled over into violence on Monday, as security forces struggled to contain angry demonstrations across the country just weeks before the currency switch.
Venezuelan President Nicolás Maduro on Monday pledged his “absolute loyalty” to the Venezuelan people as tensions continue to rise with the administration of U.S. President Donald Trump.
Security concerns across Central Asia have intensified rapidly after officials in Dushanbe reported a series of lethal incursions originating from Afghan soil, marking a significant escalation in border violence.
Moscow and Kyiv painted very different pictures of the battlefield on Sunday, each insisting momentum was on their side as the fighting around Pokrovsk intensified.
Russia has claimed a decisive breakthrough in the nearly four-year war, with the Kremlin announcing the total capture of the key logistics hub of Pokrovsk just hours before United States mediators were due to arrive in Moscow.
U.S. President Donald Trump confirmed on Sunday that he had spoken with Venezuelan President Nicolas Maduro, but did not provide details on what the two leaders discussed.
French President Emmanuel Macron addressed critical issues surrounding Ukraine’s ongoing conflict, the role of American mediation, and European involvement during a press conference on Monday, reaffirming France’s commitment to supporting Ukraine's sovereignty and ensuring peace in the region.
Canberra has issued a stark assessment of the changing security landscape in the Pacific, warning that Beijing is projecting force deeper into the region with diminishing transparency, complicating the delicate balance of power in the Southern Hemisphere.
A Russian-flagged tanker en route to Georgia reported an attack off Türkiye’s coast, with its 13 crew unharmed, according to the country’s maritime authority.
The fate of the world’s largest nuclear power station hangs in the balance this month as local lawmakers in Japan decide whether to authorise a controversial restart, a move that would mark a significant pivot in the nation’s post-Fukushima energy policy.
Venezuelan President Nicolás Maduro on Monday pledged his “absolute loyalty” to the Venezuelan people as tensions continue to rise with the administration of U.S. President Donald Trump.
At a transit camp on the Chad-Sudan border, Najwa Isa Adam, 32, hands out bowls of pasta and meat to orphaned Sudanese children from al-Fashir, the site of a recent violent takeover by paramilitary forces in Sudan.
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