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RBI MPC minutes: Why RBI chose to cut rates

Updated : June 06, 2020 09:21 AM IST

All six members voted to cut repo rates, and retain the accommodative stance, indicating future scope for further rate cuts.
On May 22, RBI had announced a further 40 basis point reduction in repo rates, after reducing it by 75 basis points in March.
The MPC meet was advanced from the originally planned dates of June 3-5 in view of the COVID-19 pandemic spread, RBI said.

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