For the first time in 15 months, traders in the swap market are anticipating the Reserve Bank of India will stop raising interest rates and mhttp://www.blogger.com/img/blank.gifay start to ease policy in the next year as the economy slows.
The cost to lock in one-year borrowing costs dropped below the central bank’s 8 percent benchmark rate this month for the first time since May 2010 and was 7.73 percent today, according to data compiled by Bloomberg. The gap has narrowed 58 basis points in August, compared with 110 in Brazil and 37 in China.
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