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India makes surprise early rate cut, hints at more
(Reuters) - The Reserve Bank of India surprised markets with a 25 basis point reduction in interest rates on Thursday and signaled it could cut further, amid signs of cooling inflation and what it said was a government commitment to contain the fiscal deficit.
While the early move was unexpected, aggressive reductions in rates have been seen as likely over the course of the coming year to help India's economy out of a rut, with growth rates struggling to recover from their weakest levels since the 1980s.
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