India’s central bank slashes interest rates as virus spreads | The Malaysian Insight

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India’s central bank slashes interest rates as virus spreads

People stand in circles marked on the ground to maintain the recommended social distance as they line-up outside a pharmacy during a government-imposed nationwide lockdown as a preventive measure against the coronavirus pandemic. – AFP pic, March 27, 2020.

INDIA’S central bank today cut interest rates sharply as the coronavirus outbreak deepens fears for Asia’s third largest economy, which was already battling a prolonged slowdown. The move followed similar measures around the world as finance chiefs battle to stave off would could be the worst economic crisis in decades.

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