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The Reserve Bank of India (RBI) slashed its key repo rate by 25bps to 6% at its April meeting, marking back-to-back cuts of equal amount and aligning with market expectations. The latest rate adjustment brought borrowing costs to their lowest level since November 2022, driven by easing inflation, slowing economic output, and growing global trade tensions. Regarding economic outlook, the RBI slightly eased its FY2025/26 GDP growth forecast to 6.5% from 6.7%. Quarterly growth projections stand at 6.5% for Q1, 6.7% for Q2, 6.6% for Q3, and 6.3% for Q4. Inflation estimates were revised down to 4% from 4.2%, remaining within the RBI’s 2–6% target range. On a quarterly basis, inflation is projected at 3.6% in Q1, 3.9% in Q2, 3.8% in Q3, and 4.4% in Q4. The RBI also reduced the standing deposit facility (SDF) rate by 25 bps to 5.75% and the marginal standing facility (MSF) and bank rates to 6.25%. Meanwhile, the cash reserve ratio (CRR) was held steady at 4% following a 50bps cut in December.