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Coutts to keep “long-held overweight” on Indian equities

Yesterday the Reserve Bank of India (RBI) cut the rate it lends to banks by 50 basis points (bps) to 6.75%, the fourth reduction this year, with most of the reaction lying in bonds, Coutts says. The British lender’s investment strategist Rashmi Sadhwani reckons that the magnitude of the cut comes as a “surprise”, with consensus expecting a much smaller…

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