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Friday, Jun 20, 2025
Following the rate cut, the key policy rate eased to 6 per cent providing relief to home, auto and corporate loan borrowers.
Additional US tariffs on Chinese imports are set to reach 104 percent on Wednesday.
Israeli Prime Minister Benjamin Netanyahu seeks to limit the sting of tariffs imposed on his country at a meeting with US President Donald Trump.
The announcement injected further turbulence into global financial markets, which have fallen steadily since Trump's announcement.
Apple, whose iPhones are largely manufactured in China, fell over nine percent.
Goods entering the world's biggest economy under the US-Mexico-Canada Agreement will continue to be exempted.
He imposed 34 per cent on goods from superpower rival China, 20 per cent the European Union and 24 per cent on Japan.
Reciprocal tariffs on countries that impose duties on US goods would take effect immediately after Trump announces them, while a 25% tariff on auto imports will take effect on April 3.
Markets roiled after the latest duty on the industry.
Both countries plan to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) focused on increasing market access, Jitin Prasada said.
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