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RBI Keeps Key Rates Unchanged; Indicates Rate Cuts In Jan. Review

The Reserve Bank of India in an unexpected move decided to keep the key interest rates and cash reserve ratio unchanged in a monetary policy review, citing the fragile global economic situation but said the policy focus was shifting towards growth, indicating monetary easing in the next quarter review.
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Obama Offers Tax, Benefits Concessions

President Barack Obama has agreed to curtail future cost-of-living hikes for Social Security and softened his demand for higher taxes on the rich in talks to avoid the ‘‘fiscal cliff,’’ people familiar with the talks said.

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