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RBI may cut rates next week: Source
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October 18th, 2008 · No Comments
Finance ministry expects the Reserve Bank of India to cut its main short-term lending rate at a scheduled review next week, a finance ministry source said on Friday, sending 10-year bond yields tumbling to one-week lows.
The Times of India writes “An indirect cut in statutory liquidity ratio has already released about Rs 60,000 crore ($12.2 billion) and Rs 1 trillion through cash reserve ratio cuts and we expect a cut in repo rate on October 24 by the central bank,” the official, who declined to be named, told reporters. READ MORE…
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