India's central bank announced a larger-than-expected interest rate cut on Wednesday and kept the door open for more easing to spur slowing economic growth.
The Monetary Policy Committee of the Reserve Bank of India decided to reduce the key rate by 35 basis points to 5.40 percent, the lowest since 2010.
Economists had expected a 25 basis point cut in interest rates.
The central bank had lowered its rates thrice this year after the bi-monthly policy meetings in February, April and June.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.