A day after the United States federal reserve raised interest rates for the second consecutive time, worrying government data shows that the US economy contracted for a second quarter between April and June.

US GDP declines at an annual rate of 0.9%

On Wednesday, after a two-day meeting, the RBI is likely to reiterate concern about inflation, as the annual rate increased to 3.58 per cent in October

Preview: RBI, wary on inflation, set to keep rates on hold

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