March Cut Tops Surprises List in India MPC History, Paper Says.

(Bloomberg) -- The Indian central bank's decision in March to slash interest rates in an unscheduled meeting was the biggest surprise since a Monetary Policy Committee was set up four years ago, according to a new research paper. India's rate-setting panel is due to meet in the first week of August, having already cut the repo rate by 115 basis points so far this year as the economy heads toward its first annual contraction in more than four decades. [Extracted from the article]