In an attempt to boost demand and increase consumer sales in the gloomy economic conditions, the RBI announced the lowering of repo rate by 25 basis points. The central bank stated that it will continue with an accommodative stance as long as it is necessary to revive the growth momentum. For many, the 25 bps cut was below expectations, so the markets failed to react confidently to the fiscal stimulus.
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October 23-27, 2019