Chambers welcome rate cut

quot;In view of reduction in bank interest rate including reduction in export credit finance, exports from the country will become more competitive and bring down inflation and cost of production,quot; it said.

The reduction in the repurchase transactions repos rate from six to five per cent along with the cut in the bank rate and the CRR would manage interest rates and inflation in a manner that supports the economy8217;s revival and expansion, the statement added.