India | Q3 2015 GDP growth picks up, RBI pauses

Summary

India’s Q3 2015 real GDP registered stronger than expected growth, rising 7.4% y/y compared to 7.0% in 2Q15. Meanwhile, the Reserve Bank of India kept benchmark repo rate unchanged at 6.75% in today’s credit policy, in line with expectations. We peg India’s GDP growth at 7.3% y/y in 2015 and 7.7% y/y in 2016; and believe that RBI's rate cutting cycle is not over yet.

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