India's central bank has lowered interest rates by a deeper-than-expected half a percent - the third cut in a row amid falling inflation and lower growth in Asia's third largest economy. The repo rate now stands at 5.

India’s central bank surprised markets with a jumbo rate cut, seizing on cooling inflation to frontload monetary easing and bolster economic growth amid heightened global uncertainty.

The Reserve Bank of India lowered its policy repo rate by 50 basis points to 5.5%, the lowest level since 2022 and its third consecutive cut. Following the decision, the benchmark Nifty 50 ( NIFTY) logged its best trading session in three weeks to end 1% higher. BSE Sensex ( SENSEX) closed up 0.9%.