Interest rates to soften as economy starts to cool

Indian companies and consumers, hit by high borrowing costs after 13 successive policy rate hikes by the Reserve Bank of India (RBI), may have reason to cheer in the New Year as the central bank embarks on monetary policy reversal. Bank interest rates have hardened as a result of central bank action to douse inflation, which is still hovering above the 7% level RBI is targeting by next March. 

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