India’s central bank delivered an outsized cut to its benchmark policy rate, bringing it to 5.5% from 6%, its lowest level since August 2022. This also marks a third straight rate cut since February, and comes below the median estimates of 5.75% in a Reuters poll. The decision comes after a better-than-expected GDP growth figure in its fiscal fourth quarter, with the economy expanding 7.4% year-on-year compared to the 6.7% estimated by economists polled by Reuters. However, the central bank held its full-year GDP estimate at 6.5%, marking a sharp slowdown compared to the 9.2% seen in the previous financial year, ... (full story)