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RBI Cuts Key Interest Rate to Stimulate Economy
- The Reserve Bank of India (RBI) has reduced its key repo rate by 25 basis points to 6.25%, marking the first cut since May 2020.
- This move aims to boost the slowing economy, with GDP growth forecasted at 6.4% for this fiscal year, the slowest in four years.
- Retail inflation has eased to 5.22% in December, providing room for the rate cut.
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