India’s economy is in the midst of a softer patch which we think will continue for a few more quarters. Headline CPI inflation is now within touching distance of the Reserve Bank’s 4% target and looks set to continue easing over the coming months. The RBI kicked off its easing cycle with a 25bp cut in February and we’re expecting a further 75bps of cuts to the repo rate (to 5.50%) in this cycle, a more dovish view than that of the consensus.
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