India's Domestic Growth Environment Looks 'Less Benign,' MUFG Bank Says -- Market Talk

Dow Jones12-02

0712 GMT - The domestic growth environment for India looks "less benign," MUFG Bank's Michael Wan says in a research report. India's GDP growth for the July-September quarter was "materially weaker" than expected, the senior currency analyst notes. MUFG Bank cuts its India GDP growth forecast for FY 2025 to 6.1% from 6.9% and for FY 2026 to 6.3% from 6.7%. The Japanese bank now expects the RBI to lower rates by 75 bps for this cycle beginning from February 2025, instead of 50 bps previously. It also raises its USD/INR forecasts to 85.50 from 85.30 for 2Q CY 2025 and to 85.70 from 85.40 for 3Q CY 2025. USD/INR is 0.1% higher at 84.69 after touching a record high of 84.73 on Friday, according to FactSet. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 02, 2024 02:12 ET (07:12 GMT)

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India's GDP growth for the July-September quarter was \"materially weaker\" ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MUFG","symbol_name":"三菱日联金融","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2488157642","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488157642","pubTimestamp":1733123520,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0712 GMT - The domestic growth environment for India looks \"less benign,\" MUFG Bank's Michael Wan says in a research report. India's GDP growth for the July-September quarter was \"materially weaker\" than expected, the senior currency analyst notes. MUFG Bank cuts its India GDP growth forecast for FY 2025 to 6.1% from 6.9% and for FY 2026 to 6.3% from 6.7%. The Japanese bank now expects the RBI to lower rates by 75 bps for this cycle beginning from February 2025, instead of 50 bps previously. It also raises its USD/INR forecasts to 85.50 from 85.30 for 2Q CY 2025 and to 85.70 from 85.40 for 3Q CY 2025. USD/INR is 0.1% higher at 84.69 after touching a record high of 84.73 on Friday, according to FactSet. 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