India and China are accelerating efforts to prop up growth as a global slump threatens the world’s fastest-expanding major economies.
The Reserve Bank of India on Nov. 1 lowered its benchmark interest rate for the second time in two weeks, and for the first time in 11 years reduced the amount of money lenders are required to keep in government bonds. China’s central bank removed temporary controls over loans to maintain “relatively fast” growth, Xinhua News Agency reported Nov. 1, three days after cutting its key rate for the third time in two months.
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