Advertisement
Singapore markets closed

  • Straits Times Index

    3,410.81
    -29.07 (-0.85%)
     

  • Nikkei

    40,912.37
    -1.28 (-0.00%)
     

  • Hang Seng

    17,799.61
    -228.67 (-1.27%)
     

  • FTSE 100

    8,203.93
    -37.33 (-0.45%)
     

  • Bitcoin USD

    56,611.14
    -1,312.18 (-2.27%)
     

  • CMC Crypto 200

    1,173.39
    -35.31 (-2.92%)
     

  • S&P 500

    5,553.79
    +16.77 (+0.30%)
     

  • Dow

    39,241.14
    -66.86 (-0.17%)
     

  • Nasdaq

    18,331.52
    +143.22 (+0.79%)
     

  • Gold

    2,393.00
    +23.60 (+1.00%)
     

  • Crude Oil

    84.08
    +0.20 (+0.24%)
     

  • 10-Yr Bond

    4.2800
    -0.0750 (-1.72%)
     

  • FTSE Bursa Malaysia

    1,611.02
    -5.73 (-0.35%)
     

  • Jakarta Composite Index

    7,253.37
    +32.48 (+0.45%)
     

  • PSE Index

    6,492.75
    -14.74 (-0.23%)
     

RBI to work with govt to ensure rate cut transmission

Reuters

NEW DELHI (Reuters) - The Reserve Bank of India (RBI) will work with the government to ensure that the benefits of a cut in the policy interest rate is passed on by commercial banks through reductions in their lending rates, RBI Governor Raghuram Rajan said on Tuesday. On Tuesday, the central bank cut its policy interest rate to a 4-1/2 year low of 6.75 percent, in a bigger-than-expected move that, with inflation running at record lows, could help an economy in danger of slowing down. Rajan also said the RBI is comfortable with inflation levels with food prices continuing to fall. (Reporting by Mumbai Newsroom; editing by Simon Cameron-Moore)