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    India cuts interest rates once more

    Bloomberg
    22.04.2009 - 00:00 | Son Güncelleme:

    MUMBAI - India’s central bank reduced interest rates for the sixth time in as many months to a record low after forecasting the economy will expand at the slowest pace since 2003.

    The Reserve Bank of India cut the reverse repurchase rate to 3.25 percent from 3.5 percent, according to a statement in Mumbai yesterday. Economic growth may ease to 6 percent in the year that started April 1 from 7.1 percent in the previous 12 months, the bank said.

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