India Lowers Rates in First Decision by New Monetary Panel

  • Benchmark rate lowered to 6.25%, lowest since January 2011
  • Central bank sees inflation at 5.3% in January-March 2017

India’s new central bank Governor Urjit Patel led a united monetary policy panel to lower interest rates at its first review, taking advantage of easing inflation to boost growth in Asia’s third-largest economy.

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