The world's central banks are on a cutting spree. The reserve banks of India, New Zealand, and Thailand have all announced larger-than-expected cuts to interest rates, signalling major concerns about the global economy. In India, growth has slowed to a five-year low, prompting manufacturers to lay-off hundreds of thousands of workers. The country's central bank has slashed interest rates for a fourth time this year to 5.4 percent. But as Mobin Nasir reports, it may not be enough to revive growth in the once booming economy. For more on this, Sunil Poshakwale joined us from Birmingham in the UK. He's an international finance professor at the Cranfield School of Management.
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