- Fitch Ratings has said that the Reserve Bank of India (RBI) is the first central bank in the Asia-Pacific (APAC) region to have begun explicit interest rate easing cycle by cutting the policy twice, amounting to a cumulative 50 bps, in the last two monetary policy reviews in 2019.
- This is the first back-to-back rate cut since the MPC was formed in late 2016.
- Fitch has predicted GDP growth rate of 6.8% in FY20 for India.
Points to remember:
- First central bank of APAC to start interest rate easing cycle?
- Which agency stated that RBI is the first central bank in APAC to start interest rate easing cycle?