RBI saw growth slowdown, acted ahead of time by cutting rates from Feb: Shaktikanta Das

Reserve Bank of India, RBI Governor Shaktikanta Das today said the central bank had acted ahead of time by starting to slash rates in February this year. Mr Das hoped that the decision to pause the cuts earlier this month will prove to be a right call over time. The comments from the RBI Governor come following a series of five consecutive rate cuts by RBI starting February this year by a cumulative 1.35 per



cent.

 

Speaking at the India Economic Conclave in Mumbai, he said, as early as February this year, the RBI saw that a momentum for slowdown is building up and the central bank started cutting rates this year.

 

Mr Das said, at that in February, the market was surprised with the RBI's call and wondered why it surprised market participants now also with a pause call.