Merrill Lynch expects 0.25% rate cut by RBI tomorrow
PTI: New Delhi, Jan 28 2013, 16:30 IST
went in for a bold move and slashed the repo rate by at least 100 basis points. Only then the prolonged high interest rate cycle will be broken and the growth would get some breathing space for revival," the chamber said in a statement.
Inflation based on wholesale prices declined to a three-year low of 7.18 per cent in December. However, retail inflation rose for the third successive month in December to 10.56 per cent.
Industrial output contracted by 0.1 per cent in November. The economy grew by 5.4 per cent in April-September this fiscal, as against 7.3 per cent in the same period of 2011-12. It is estimated that the year-end GDP would be 5.7 per cent, a 10-year low.
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