``Today`s rate cut of 50 bps is the first reduction in policy rates since 2009. The bigger than expected rate cut clearly indicates a shift in policy stance towards boosting growth in a flagging economy. However, at the same time the apex bank has raised concerns over the persistent upside risks to inflation which could limit the scope for further reduction in policy rates,`` said Yadnesh Chavan- Fund Manager, Fixed Income, Mirae Asset Global Investments.
Rate cut clearly indicates a shift in policy stance towards boosting growth: