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RBI Move Signals Start of Low Rate Regime: Trade Minister

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RBI Move Signals Start of Low Rate Regime: Trade Minister

File photo of trade minister Nirmala Sitharaman

New Delhi: The Reserve Bank of India's move to cut interest rates by 25 basis points, or 0.25 per cent, signals the beginning of a low interest rate regime, Commerce and Industry Minister Nirmala Sitharaman said on Thursday.

"(The) RBI's rate cut signals the beginning of a low interest regime and is highly encouraging for industry and economy," Ms Sitharaman said in a Twitter post, published by her ministry.

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Earlier, acting ahead of a scheduled monetary policy meeting on February 3 and the federal annual budget statement late next month, the RBI surprised markets by lowering the repo rate - its key lending rate - to 7.75 per cent from 8.0 per cent, where it had been for the past year.

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