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India bank chief warns of 'stubborn' inflation; rate cut appears unlikely

AFP
March 15, 2013, 1:03 pm TWN

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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.

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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