Fitch’s Pant Says India Rate Cut Will Raise Spending
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Devendra Pant, a director at Fitch Ratings in New Delhi, comments after India’s central bank reduced interest rates for the first time since 2009. Pant spoke today in a telephone interview.
Governor Duvvuri Subbarao lowered the repurchase rate to 8 percent from 8.5 percent, the Reserve Bank of India said in a statement in Mumbai today. The outcome was predicted by three of 25 economists in a Bloomberg News survey. Seventeen expected a