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Indian central bank faces calls for rate cuts and increased Bloomberg liquidity
India's economic slowdown has once again alerted Asia's most peaceful central bank. Growth slowed to 5.8% in the first three months of the year, the slowest pace in several quarters, according to a government report released on Friday. This brought the fiscal year-end expansion to March 2019 to 6.8%, which is lower than the median estimate of 6.9% from a Bloomberg survey. Despite the two interest rate cuts by the central bank this year, borrowing costs in the economy are not falling fast enough. Liquidity has also dried up in recent months as liquidity demand has increased before the six-week elections in India. More …
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