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India Leaves Interest Rates Unchanged
The Reserve Bank of India has left its key interest rate at 8%, surprising economists who expected the bank would respond to slowing growth by cutting borrowing costs.
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The Reserve Bank of India has left its key interest rate at 8%, surprising economists who expected the bank would respond to slowing growth by cutting borrowing costs.
The central bank says lowering rates would drive inflation higher.
The Society of Indian Automobile Manufacturers has cited steep interest rates as one of the major reasons that car sales are slowing. Volume crept up 3% to 163,200 vehicles in May.
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