India's central bank cut interest rates by 25 basis points Thursday, the first time in almost two years curry 3 shoes for sale , in a surprise announcement to boost the flagging economy after inflation eased.
The Reserve Bank of India (RBI) reduced the benchmark repo rate -- the level at which it lends to commercial banks -- to 7.75 percent ahead of next month's policy meeting.
RBI governor Raghuram Rajan said the bank was confident of cutting rates because local food and global oil prices have brought stubborn inflation under control in recent months.
""These developments have provided headroom for a shift in the monetary policy stance,"" Rajan said in a statement.
The RBI has been under pressure from government and business leaders to reduce rates to increase lending and help kickstart the economy, which has been struggling through the worst slowdown since the 1980s.
After storming to power at elections in May, Prime Minister Narendra Modi promised to reform and revive Asia's third-largest economy by attracting more foreign investors and bolstering manufacturing.
But Rajan has insisted his priority is bringing inflation under control curry 2 shoes for sale , although the bank had signalled that a cut was on the cards at its February 3 meeting.
The cut is the first since March 2013.
Inflation, especially high food prices, have caused much hardship for India's 1.2 billion population, of which nearly a quarter live in severe poverty curry 1 shoes for sale , according to the World Bank.
The Bombay stock exchange surged two percent on Thursday's announcement, jumping 550.15 points in opening trade to hit 27,896.97.
Daniel Martin, senior Asian economist at Capital Economics under armour verge shoes sale , welcomed the cut, saying the ""economy could certainly use some support, with the industrial sector, in particular under armour newell ridge shoes sale , clearly struggling to gain any momentum"".
The economy grew 5.3 percent from July-September year-on-year, significantly slower than the previous three months, and far too low to help create jobs for its tens of millions of young people.
Rupa Rege Nitsure, chief economist at the Bank of Baroda (BSE: BANKBARODA.BO - news) under armour threadborne shoes sale , said the decision ""is quite consistent with the guidance in their (the RBI's) last policy review"".
""It's driven by a very sharp fall in crude oil prices this week"" as well as the recent falls in inflation, she told AFP.
The decline in food prices ""has been consistent for four to five months"".
Consumer price inflation inched up to five percent year-on-year in December, from a three-year low of 4.38 percent in November.
The Wholesale Price Index, released on Wednesday under armour hovr shoes sale , rose a marginal 0.11 percent in December from a year earlier, compared with zero percent recorded in November -- the lowest rate since July 2009.
The RBI on Thursday said the cash reserve ratio would be kept at 4.0 percent, but the reverse repo rate at which the RBI borrows from commercial banks would fall to 6.75 percent.
RIO DE JANEIRO， Aug. 15 (Xinhua) -- China's two mixed doubles pairs lost their semifinals on Monday， failing to make the gold medal match of the 2016 Rio Olympic Games.
Top seeds Zhang NanZhao Yunlei were defeated by Indonesia's Tontowi AhmadLilyana Natsir 16-21， 16-21， while Malaysia's Chan Peng SoonGoh Liu Ying beat Xu ChenMa Jin of China 21-12， 21-19 in front of the roaring fans.
The mixed gold medal of badminton was believed to be the most hopeful for China with the gold and silver medalists at the London Olympics into the Rio semifinals.
"Indonesian pair played better， and we had some problems in small details. We expected it would be tough and got prepared， but we were not the better ones，" said Zhang Nan after match.
However， China had the good news in the morning as its two pairs headed into the last four of the men's doubles. Fu Haifeng and Zhang Nan， Chai Biao and Hong Wei defeated their South Korean and Russian rivals respectively， ensuring a medal at least.
Britain's Marcus EllisChris Langridge and Malaysia's Goh V ShemTan Wee Kiong entered the semis as well. Top seeds Lee Yong DaeYoo Yeon Seong of South Korea were surprisingly defeated by the Malaysia's pair 17-21， 21-18， 21-19.
The only Chinese pair in the women's doubles carried China's hope to win the gold medal for the fifth consecutive time， as Tang YuantingYu Yang beat Indonesia's Nitya Krishinda MaheswariGreysia Polii 21-11， 21-14.
TangYu's opponents in the next round will be Denmark's Christinna PedersenKamilla Rytter Juhl， who stopped South Korea's Chang Ye NaLee So Hee 28-26， 18-2. Cheap Jerseys China Cheap Jerseys From China Cheap NHL Jerseys Cheap NFL Jerseys Cheap College Jerseys Cheap Authentic NBA Jerseys Cheap Soccer Jerseys Free Shipping Cheap College Basketball Jerseys Wholesale Jerseys China Wholesale Jerseys From China
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