The Reserve Bank of India (RBI) is no longer seeing current account deficit (CAD) as an impediment to a cut in key interest rates. Allaying CAD fears, RBI Governor D Subbarao said on Wednesday that there were four reasons why another cut in interest rate would not result into wider CAD. He said a rate cut would unlikely to boost import demand as the growth is sluggish. Secondly, rate cut in January showed that it would enhance the country’s export competitiveness. read more
[via Stock Watch - Stock Specific News]
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