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India cuts rates

International

India's central bank cut its main interest rates by 25 basis points on Tuesday - its first reduction in nine months - in an effort to kickstart the slowing economy.

The Reserve Bank of India (RBI) said the benchmark repo rate, at which it lends to commercial banks, would fall to 7.75 percent.

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The cash reserve - which determines the amount of cash banks keep aside - was also cut by 25 basis points to 4.0 percent. - Sapa-AFP

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