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BoFA lowers GDP forecast to 7.4% for FY 17

As demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December

Press Trust of India  |  Mumbai 

Bank of America Merrill Lynch (BofA) on Monday trimmed the country's economic growth estimates by 30 basis points to 7.4% for the current financial year as demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December. Besides, the global financial services major has lowered its GDP number by 30 bps to 7.6% for the next financial year (2017-18). At the same time, BofA said the Reserve Bank of India (RBI) would cut rates by 25 basis points in the upcoming policy review on December 7, as the "conversion of black money into deposits allow banks to cut ...

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BoFA lowers GDP forecast to 7.4% for FY 17

As demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December

As demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December Bank of America Merrill Lynch (BofA) on Monday trimmed the country's economic growth estimates by 30 basis points to 7.4% for the current financial year as demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December. Besides, the global financial services major has lowered its GDP number by 30 bps to 7.6% for the next financial year (2017-18). At the same time, BofA said the Reserve Bank of India (RBI) would cut rates by 25 basis points in the upcoming policy review on December 7, as the "conversion of black money into deposits allow banks to cut ... image
Business Standard
177 22

BoFA lowers GDP forecast to 7.4% for FY 17

As demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December

Bank of America Merrill Lynch (BofA) on Monday trimmed the country's economic growth estimates by 30 basis points to 7.4% for the current financial year as demonetisation of Rs 500 and Rs 1,000 notes is expected to hurt activity in December. Besides, the global financial services major has lowered its GDP number by 30 bps to 7.6% for the next financial year (2017-18). At the same time, BofA said the Reserve Bank of India (RBI) would cut rates by 25 basis points in the upcoming policy review on December 7, as the "conversion of black money into deposits allow banks to cut ...

image
Business Standard
177 22