Diabytes
BofAML News
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The government's earlier moves like tariff hikes on non-essential items were also "not significant either", the American brokerage said in a note.
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Retail inflation fell to 9-month low of 4.17 percent in July on declining vegetable prices.
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The report however noted that in an under-performing market, sectors exposed to rural India like two-wheelers, cement and consumer staples should do relatively better.
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In contrast, in 2018, USD weakness is likely to push the INR to Rs 64/USD by December 2018, it added.
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Lending rate cuts are key to economic growth recovery and banks should lower rates by 25 bps before the start of the busy season in October to accelerate reforms momentum, says a report.
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Retail inflation is likely to stay well within the RBI's 2-6 per cent mandate in the coming months and accordingly, the central bank is expected to cut policy rates by 25 bps on December 6, says a report.
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Given the Reserve Bank's "dovish" policy move, banks are expected to cut lending rates by 25 basis points, which in turn is expected to push up credit offtake, says a report.
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A normal monsoon this year should continue to revive rural demand and allow the RBI to cut rates by 0.25 percent in August, says a Bank of America Merrill Lynch report.
Global brokerage Bank of America Merrill Lynch, on Thursday said positive global cues have lifted Indian equities this year but returns may be muted from here on as it set a Sensex target of 29,000 for December this year.
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A day after the Reserve Bank held its rates unchanged, foreign brokerage Bank of America Merrill Lynch on Wednesday said it expects RBI will go for a 0.25 percent cut at the next review in February on inflation coming under control, lending rates being high and sagging growth.
Bank of America Merrill Lync (BofAML) India head has predicted a five-fold rise in forex debt raising by domestic corporates to a record USD 100 billion over the next two years.
Reforms by the Modi government are expected to drive the benchmark stock market index to a year-end target of 27,000 points, a US brokerage said.
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