Credit Suisse cuts India's FY13 GDP forecast to 6%
2012-09-27 10:44:26
Credit Suisse cut India's gross domestic product or GDP growth forecast to 6 percent from 6.5 percent for FY13 and 7.2 percent from 7.8 percent for FY14.
Credit Suisse said it expected interest rates to be cut by an additional 125 basis points (bps) by the end of the current fiscal year, including a 50 bps cut in October.
"Given the lags with which monetary policy operates, the monetary easing will have a bigger impact on 2014-15 GDP growth than 2013-14," the investment bank wrote in a note dated Thursday.