The Indian central bank cut its key repo rate by 25 basis points to 6.00% for the second time in a row. Also signaled a shift in its monetary policy stance from "neutral" to "accommodative." Decision mad on rising uncertainty from new 26% U.S. tariffs on Indian imports. Aimed at reviving a slowing economy, follows a similar rate cut in February—the first since May 2020.
India's benchmark 10-year bond yield was marginally lower at 6.50% after the announcement, against 6.51% before, while the rupee was little changed at 86.57. The benchmark equity indexes extended their losses and were down around 0.6% each.