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Worst Over For CAD, Currency: Prashant Jain

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September 30: “Higher than expected inflation, a weak currency and FII withdrawals have disproved my earlier theory on a rate cut,” says Prashant Jain of HDFC Mutual Funds. However, he still sees lower rates in India in a year. “What has happened over the past few months is due to capital outflows and a gold imports spike, and not the CAD,” he says, adding that there has been good progress in CAD and it will improve further due to the RBI’s measures.