India Lower policy interest rate Supporting the domestic economy, vividly August 7, 18:12
The central bank of India has lowered its policy interest rate, which is the biggest reduction, and has made clear its attitude to support the domestic economy amid growing concerns about the global economic slowdown caused by trade friction between the United States and China.
The Reserve Bank, the central bank of India, held a meeting to decide monetary policy on the 7th and decided to lower the policy interest rate from 5.75% to 5.4%.
This is the fourth consecutive reduction in the policy interest rate, but this is the largest reduction, and compared to the beginning, the policy interest rate has dropped by more than 1 point and has been the lowest since 2010.
The forecast for GDP growth rate for the current fiscal year has also been revised downward from the original 7% level to 6.9%.
Reserve Bank's President Das said in a statement that, with the intensification of trade friction between the United States and China, saying, “There is a sense of uncertainty about the future of the global economy, and there is a need for further stimulus measures in the country.” The attitude to support the economy has been clarified.
However, for the Modi administration, which overcame the spring general election and started the second term, the rise of the Indian economy is the biggest political issue, and this mitigation measure is also taken into account based on the intention of such administration It has been.