Five interest rate cuts since the start of the year hasn't stopped India�...
MUMBAI - Five interest rate cuts since the start of the year hasn’t stopped India’s economy from slowing to its weakest growth rate since 2013, but the country’s central bank is expected to make its sixth cut on Thursday to give what little relief it can.
The gross domestic product numbers released on Friday showed government spending helping to prop up weak demand, but private investment growth had virtually collapsed, with a crisis in the shadow banking sector causing illiquidity in the economy. A 25 bps cut would take the cumulative rate cuts by Asia’s most aggressive central bank to 160 bps since February and will be the most in a calendar year since 2009.
Annual retail inflation INCPIY=ECI rose to 4.62% last month, climbing above 4% for the first time in 15 months and up from 3.99% in September.
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