India Assets End With Whimper as Surprise Rate Cut Fails to Amaze
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So much for the Reserve Bank of India becoming the first major Asian central bank to cut its benchmark interest rate.
The yield on the most-traded 2028 sovereign bonds fell just seven basis points, the rupee eked out a gain and the main stocks gauge closed flat on Thursday -- hardly the reaction you’d expect when just 11 of 43 economists surveyed by Bloomberg News predicted the surprise decision.