LONDON (March 3): India’s central bank governor said he is ready to act to shield the economy from the 2019 novel coronavirus (Covid-19) and reiterated there is room to cut interest rates if needed.

Speaking in an interview with Bloomberg News in Mumbai just hours before finance ministers and central bank chiefs from the G-7 economies were scheduled to discuss policy options, Shaktikanta Das said “there is a strong reason for coordinated policy action.” For India, options include a rate cut and supporting the market through liquidity measures, he said.