The RBI cut its estimates on headline inflation which cooled off to a 18-month low of 2.2 per cent in December for the next year, and expects the number to come at 2.8 per cent in March quarter, 3.2-3.4 per cent in first half of next fiscal and 3.9 per cent in third quarter of FY20.
Explaining the rationale for the rate cut, Das said it was "vital to act decisively and in a timely manner to address the objective of growth once price stability as defined (in RBI's inflation-targeting mandate) is achieved". "The rate cut is also driven by the fact that inflation has significantly surprised on the downside". The Bank of Thailand kept its key rate unchanged on Wednesday after hiking in December, while the Philippines also held on Thursday. However, all the members agreed on changing the policy stance to neutral.
Bonds gained, and the rupee declined 0.2 per cent immediately after the rate move.
RBI Governor Shaktikanta Das said, "we are constantly & continuously monitoring the liquidity situation and based on the requirement we will ensure that there is no liquidity scarcity".
The cut is welcome news for Prime Minister Narendra Modi's government, which wants to boost lending and lift growth as it faces elections by May.
The monetary stimulus is what PM Modi's government needs to stoke growth in an election year. It also stayed below RBI's inflation target of 4 per cent for five consecutive months.
Patel's exit prompted some to fret the RBI's independence was under threat, but some economists argued that Thursday's decision should not be read as a surrender to pressure.
Thus far in the current calendar year 2019, Nifty Auto index has underperformed the market by falling 7 per cent mainly due to moderate volume growth on account of challenges like higher insurance costs and lower financing available.
Grande is far from a new face on the scene, but this past year has been an especially prominent one for her. Instead, they offered her a spot performing during the Tom Petty tribute, which she ultimately declined.
Bud Light's Super Bowl campaign called out competitors that use corn syrup - and the corn lobby is not happy about it. Corn farmers clapped back at Bud Light following a commercial in which the beer boasted about not using corn syrup .
Talks between the Taliban and senior Afghan figures - but not members of the government - are taking place in Moscow this week. The present Afghan military forces and the Taliban need to cooperate in this regard, which will not be easy to accomplish.
Google Cloud also drove higher expenses, mostly headcount, which rose from the third quarter by nearly 4,400 people, to 98,771. One stunning number is telling about Google's effectiveness as a business. "We'll continue down this path".
You're going to have to give up a fortune to get Davis, and that's not worth doing unless you get him for the next several years. Davis informed the Pelicans that he wouldn't sign a five-year, $239 million supermax contract this summer or next.
The Black Caps opener underwent a fitness test in Wellington yesterday during which he continued to feel pain in his lower back. Bowling all-rounder James Neesham, who was earlier left out of the T20I squad, has now been included as Guptill's replacement.
This lead to distrust in vaccinations after concerns were made public by the manufacturers regarding its potential side effects. Yet one or two out of every 1,000 children who get measles will die from complications, according to the CDC .
The feature will be available for the updated versions of facebook messenger in all the androids and apple phones. Choosing " Remove For Everyone " deletes that message from view for all participants in the particular chat.
According to BBC Wales, Nantes have given Cardiff a 10-day ultimatum over the first payment of between five and six million euros. Sala and his pilot David Ibbotson have been missing since shortly after their plane took off from France on January 21.
Boy band BTS to attend 2019 Grammy Awards as presenter
The Best Recording Package is awarded for "the visual look of an album" including the album cover, graphic arts and photography. Rapper Kendrick Lamar leads the way in nominations with eight, followed by Drake with seven and producer Boi-1Da on six.
Marc Gasol headed to Raptors as trade deadline heats up
His shooting woes had become a hot topic among fans of the Raptors, who have struggled with the deep ball in recent weeks. For weeks, Gasol alluded to the fact that he expected to be traded by the National Basketball Association trade deadline.
Facing Divided Congress, Trump Calls for Unity
The speech painted a portrait of menacing immigrants endangering Americans and a sharp challenge to Congress to build the wall. However, last week, women on both sides of the aisle were invited to wear white by the Democratic Women's Working Group.
Lunar New Year welcomes the year of the pig
Throughout China, the holiday season, also known as chunjie, lasts for more than two weeks. In 2019, the Chinese new year starts February 5th, according to the lunar calendar.
Portland acquires Rodney Hood from Cleveland
The teams agreed to the deal Sunday and completed a conference call with the National Basketball Association on Monday. The Portland Trail Blazers have acquired swingman Rodney Hood from the Cleveland Cavaliers in a three-player trade.