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India bank chief warns of 'stubborn' inflation; rate cut appears unlikelyAFP MUMBAI -- India's central bank chief has said “stubborn” inflation remains a major obstacle to growth in India, dimming expectations of an interest rate cut when policymakers meet next week.
March 15, 2013, 1:03 pm TWN The Reserve Bank of India slashed the main interest rate in January for the first time in nine months after a fall in inflation and calls from the government and business leaders for lower borrowing costs.
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