India | Robust Q1 GDP dims further rate cut hope

Summary

The Indian economy grew at a robust 7.9% y/y rate in Q1 2016, beating expectations, as strong private consumption offset negative investment contribution. In the wake of an improving but unbalanced growth recovery, RBI will likely adopt a wait and watch policy approach, characterized by a status quo on June 7th while leaving room for a final 25 bps rate cut later in 2016.

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