 "More steps in the offing for timely fraud detection in banks: RBI")
The global economy is losing momentum. The International Monetary Fund (IMF) in its latest update scaled back its global growth forecast for the current year by 10 basis points to 3.2 per cent. The global economy expanded by 3.6 per cent in 2018. Consequently, large central banks are expected to turn more accommodative. The US Federal Reserve is expected to cut interest rates later this week for the first time since the financial crisis. The European Central Bank has also expressed its willingness to undertake more stimulus measures.
These developments can complicate policy choices for an emerging-market country like India.
