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RBI cuts policy rate by another 25bp, changes stance to accommodative

In line with market expectations, the RBI cut its repo rate for the third consecutive time to 5.75%. Consequently, the reverse repo rate stands at 5.50% and the marginal standing facility (MSF) rate at 6.0% (Exhibit 1). Notably, it was a unanimous decision by all the six members of the MPC to cut the policy rates and change the stance from 'neutral'  to 'accommodative'