World Economy

India Cuts Rates 

India Cuts Rates India Cuts Rates 

Reserve Bank of India Governor Raghuram Rajan cut interest rates in an unscheduled move days after the government agreed for the first time to give the central bank a legal mandate to target inflation, Bloomberg said. Rajan, citing weakness in Asia’s third-largest economy, lowered the benchmark repurchase rate by a quarter percentage point to 7.5%, the second such move this year.