0324 GMT - India's much slower-than-expected GDP growth in the latest quarter could prompt the RBI to cut rates sooner rather than later, OCBC economists say. The data indicate weakening growth momentum in key areas like private consumption and investment spending, says senior economist Lavanya Venkateswaran. OCBC forecasts a 25bp cut at the RBI's meeting on Friday, followed by another in February. Supporting the case for cuts is core inflation, which has largely conformed to a stabilizing trend, she adds. OCBC also expects disinflationary momentum to persist in the coming months. On the external front, India's economy faces the risk of additional U.S. tariffs. Despite the quarterly slowdown, OCBC maintains its full-year growth forecast at 6.2%. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 22:24 ET (03:24 GMT)
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