India’s One-Year Swaps Advance After RBI Leaves Rate Unchanged
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India’s one-year interest-rate swaps surged the most since August 2013 after the central bank left its main interest rate unchanged.
Reserve Bank of India Governor Raghuram Rajan kept the benchmark repurchase rate unchanged at 7.75 percent, the central bank said in a statement Tuesday, a move predicted by 31 of 41 economists in a Bloomberg survey. The rest forecast a cut to