Home/Forex News Round Up

Indian Central Bank Cuts Policy Rate to 6.5%; Raises Reverse Repo

Share Print 0

India’s central bank cut its repo rate by 25 basis points to 6.50 percent at a policy review on Tuesday, making a widely expected first reduction since September to bring the rate to its lowest in more than five years.

But in a surprise move, the Reserve Bank of India also raised the reverse repo — or the rate lenders charge to the central bank — by 25 basis points to 6.0 percent, while taking measures to ensure more availability of cash in the banking system.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

Latest posts by Craig Erlam (see all)

,
Back to Top