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In Foreign Affairs

India’s growth forecast economy is looking down further

4th October 2019

India’s growth forecast economy is looking down further Pin It

India’s central bank lowers its expectations for the country’s economic growth even further and has also introduced a new interest rate cut, the fifth of this year. The Reserve Bank of India (RBI) lowers the interest rate by a quarter of a percentage point to 5.15 percent.

The forecast for the growth of Asia’s third economy for 2019 was lowered to 6.1 percent from a previously predicted 6.9 percent. That is already the fourth time that this forecast has been adjusted downwards. India’s economy has been weakening for a long time, partly due to global economic cooling. By lowering interest rates, the RBI wants to boost growth.

In the second quarter, India’s economy grew by 5 percent. That was the slowest progress in six years.

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