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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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 4th of February, covering the latest developments you need to know.
Türkiye has suspended day-trip crossings at its Kapıköy border and two others with Iran as regional tensions escalate following strikes involving the United States and Israel on Tehran. AnewZ's Alisultan Sultanzade was on the ground at the crossing before the restrictions came into force.
The U.S. military's Central Command said on Tuesday that Iran has launched over 500 ballistic missiles and over 2,000 drones in its retaliatory attacks throughout the Middle East so far.
U.S. President Donald Trump threatened to impose a full U.S. trade embargo on Spain on Tuesday after the European and NATO ally refused to let the U.S. military use its bases for missions linked to strikes on Iran.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
U.S. President Donald Trump said the U.S. military has enough stockpiled weapons to fight wars "forever"; in a social media post late on Monday. The remarks came hours before conflict in Iran and the Middle East entered its fourth day.
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent military strikes carried out by the United States and Israel on targets in Iran, as tensions in the Middle East continue to rise.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 4th of February, covering the latest developments you need to know.
Strikes across the Middle East are intensifying, fuelling travel disruption, driving up global energy prices and forcing diplomatic missions to shut their doors.
U.S. President Donald Trump has said the United States has a “virtually unlimited supply” of munitions and is capable of sustaining military action indefinitely, as the conflict with Iran entered its fourth day.
The United Nations has called for an investigation into a deadly attack on a girls’ primary school in Iran, which Iranian officials say has killed more than 100 children. The U.S. has said its forces “would not” deliberately target a school.
U.S. first lady, Melania Trump chaired a UN Security Council meeting on children and education in conflict on Monday (2 March), a move criticised by Iran as hypocritical following U.S. and Israeli strikes that triggered a UN warning about risks to children.
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