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Bold Move By New RBI Governor: Richard Gibbs

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September 23: Richard Gibbs, Global Head at Macquarie Securities, says the RBI’s new governor made a strong move, which was decisive and bold. Markets will focus on defensives and are unlikely to see major FII inflows, he says, adding that “We’ll probably be revising down our GDP and earnings growth trajectory.” We could see a slight pull back respite position from the sell-off we saw earlier in the year, he adds.