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India’s Central Bank Cuts Interest Rate to Spur Economy

In a move that is expected to spur the revival of India’s economy, the Central Bank has cut interest rates. Providing even more good news for the country, a World Bank report this week forecast that India will emerge as the world’s fastest growing major economy in two years. As falling food and plunging oil prices brought inflation down sharply in recent months, the Central Bank on Thursday announced that it has cut interest rates by a quarter percentage point to 7.75 percent. It was...

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