After increasing interest rates by 3.25 percentage points over 18 months, the most by any central bank, the Reserve Bank of India (RBI) had said it will continue with its tightening cycle to control persistently strong price pressures and markets have been discounting a quarter-point rate rise in September. Policymakers in New Delhi, however, are likely to lobby for a halt to the rate increases in the wake of the gloomy outlook for major economies such as the US and Europe which could further slow down domestic growth.....
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