Moody’s Investors Service drastically reduced India’s GDP growth by 1.1 percentage points, citing a slowdown in global growth, rising interest rates, and an irregular monsoon as reasons for the economy’s potential to lose steam in the coming quarters. According to Moody’s Global Macro Outlook 2022-2023 study, India’s central bank is anticipated to maintain a hawkish posture this year and keep a moderately restrictive policy stance in 2023 to prevent domestic inflationary pressures from escalating.
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