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Tuesday, 02 June 2015 - 19:56
India cuts interest rates for a third time this year
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The Reserve Bank of India has cut interest rates for the third time this year to help boost growth in Asia's third largest economy.

The central bank cut its key repo rate to 7.25% from 7.50%, as widely expected, after taking similar moves in January and March this year.

The repo rate is the level at which the central bank lends to commercial banks.

The cut comes despite India becoming the world's fastest-growing major economy, beating China recently.

 
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