Bloomberg India’s biggest investors in shadow bank debt are getting cold feet, spelling more trouble for the hard-hit sector. Mutual fund investments in commercial paper and bonds that mature within 90 days dropped to 3.24 trillion rupees ($46.4 billion) at the end of March, the lowest in six quarters, data from the securities regulator show. The fallout from shock defaults …

Bloomberg The Philippine central bank cut its benchmark interest rate and will consider easing the reserve ratio for lenders next week to boost economic growth from a four-year low. Bangko Sentral ng Pilipinas lowered the overnight borrowing rate by 25 basis points to 4.5%, the first reduction since an operational adjustment to the rate in 2016. The Philippines joins Malaysia …

Bloomberg Brazil held its benchmark interest rate at a record low and signaled that a period of weaker-than-expected growth is still insufficient for reduced borrowing costs. The bank’s board, led by its President Roberto Campos Neto, voted unanimously to keep the Selic rate unchanged at 6.50 percent. The monetary authority has held borrowing costs steady for roughly a year. In …