Economists see India’s first rate cut in 2024 for durable growth

The Reserve Bank of India (RBI) is expected to keep interest rates on hold during its June meeting, according to Bloomberg survey results, as they focus on growth while inflation continues to moderate. The economists surveyed predict a 25 basis point cut in Q1 of 2024 as India's retail inflation dips below the RBI's upper limit of 6%, forecasting 5% for the current fiscal year.

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