New Delhi, April 9 -- With America's sudden trade onslaught taking the world to the brink of commercial chaos, the economic outlook for India, like for other countries, has taken a turn for the worse. So, it is not surprising that the Reserve Bank of India's (RBI) attention has turned decisively to supporting growth.

On Wednesday, its monetary policy committee (MPC) snipped the repo rate by a quarter-percentage-point to 6%, matching a cut made in February. Transmission willing, this should reduce the cost of credit and favour corporate investment as well as consumer spending. Alongside, the MPC shifted its policy stance to 'accommodative' from 'neutral,' paving the way for its policy rate to either go lower or stay at its current level....