India’s economic recovery stumbles, setting stage for sustained low rates
India’s economy showed signs of cooling in June as the slow easing of localized lockdowns hurt activity, a factor likely to encourage monetary policy makers meeting next week to consider keeping interest rates at record lows to foster a durable recovery.
Contractions in both manufacturing and services sectors, which contribute more than two-thirds of India’s gross domestic product, pulled the needle on an overall activity indicator to 5 from 6, a level not…
To read more: https://www.business-standard.com/article/economy-policy/india-s-economic-recovery-stumbles-setting-stage-for-sustained-low-rates-121072900214_1.html
SOURCE: BUSINESS STANDARD