In November 2008, the Reserve Bank of India (RBI) lowered its "repo" rate, the rate at which it lends to banks, from 8 percent to 7.5 percent. Only two weeks earlier, it had lowered the rate from 9 percent to 8 percent. The Economist, 11/6/2008
The Reserve Bank of India is lowering its rates to fight

Question

Quizplus · Accepted Answer

Lowering interest rates is a monetary policy tool used by central banks to stimulate economic activity and fight recession by making borrowing cheaper, encouraging spending and investment.

In November 2008, the Reserve Bank of India (RBI) Lowered