Thursday, January 1, 2009

India Exports Fall a Second Month, Adding Pressure to Cut Rates (Bloomberg)

"Overseas shipments dropped 9.9 percent to $11.5 billion from a year earlier after contracting 12.1 percent in October, the first decline in seven years, the government said in New Delhi today."


My Comments:Look for depressed industrial production numbers going forward. I think a 100bp cut in the reverse repo rate is a foregone conclusion.

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