Indian economy grows at slowest pace since 2009
The Indian central bank raised interest rates by a record amount between March 2010 and October 2011 to tackle inflation.
- (1888PressRelease) March 01, 2012 - Price rises now appear to be slowing, but the interest rate increases have taken a toll on growth, with the economy expanding at the slowest pace in three years in the fourth quarter of 2011. With Indian consumer demand weakening and the global recovery looking fragile, pressure is mounting on the central bank to begin cutting rates.
Read more on the BBC – India growth drops to slowest in nearly three years
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