On Monday, data revealed that the inflation rate in India cooled more in August. That will add pressure on the Reserve Bank of India to cut the interest rates once more which could be on the cards as soon as the current month, in order to boost economic growth.
The price pressure at their record low levels is building expectations that the country's central bank will cut the borrowing costs by a minimum of 25 basis points when it reviews its policy next on September 29. There have already been three cuts in the rates this year.