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India Starts 2009 With More Rate Cuts and Stimuli
India started the year on an actionable note by sharply cutting interest rates and unveiling another stimulus package.
The Reserve Bank of India lowered its repurchase rate by one percentage point to 5.5%, and lowered the reverse-repurchase rate by one percentage point to 4%.
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As part of its stimulus plan, the government eased inflation controls and raised the overseas investment limit to $15 billion from $6 billion. India’s federal government also green-lighted state-level initiatives to raise an additional $6.18…
5Jan2009 | Money Morning | 0 comments | Continued
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