India cuts key interest rate in attempt to revive stalled economy

India's central bank lowered its key interest rate by a quarter of a percentage point yesterday as it tries to revive stalled growth in Asia's third-largest economy.

The announcement was overshadowed by the country's minority government losing a coalition partner.

The Reserve Bank of India, making its second rate cut in three months, said the weakest economic growth in 15 quarters outweighed inflation fears. High prices, especially for food, still remain a concern and could limit the bank's scope to reduce the rate much below its current 7.5 per cent.

via Business feed http://www.scmp.com/business/economy/article/1195020/india-cuts-key-interest-rate-attempt-revive-stalled-economy