Shumita Sharma Deveshwar

Director, India Research
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Recent India research

* India: Fiscal policy puts Modi at odds with RBI, Shumita Sharma Deveshwar, 12 Oct 2017
* India: Gujarat poll to test identity vs economics, Amitabh Dubey, 5 Oct 2017
* India In Charts: A disappointingly slow recovery ahead, Shumita Sharma Deveshwar, 21 Sep 2017
* India: RBI firm on inflation, despite growth risk, Shumita Sharma Deveshwar, 14 Sep 2017
* India: Modi risks losing control of jobs narrative, Amitabh Dubey, 8 Sep 2017

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India Monitor: Surprise rate cut signals concerns about gradual recovery


With its surprisingly large 50bps cut in the policy repo rate, the Reserve Bank of India (RBI) beat even our out-of-consensus call that it would cut rates by 25bps at its 29 September monetary policy review and follow up with another rate cut of a similar magnitude before the end of this year. Based on RBI Governor Raghuram Rajan’s hawkishness to date, most market observers had pencilled in a 25bps reduction in September and the next rate cut only in 1Q/FY16. A slow economic...

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