The country's inflation rate reading comes after India had missed growth expectations for its fiscal second quarter

India has appointed a new central bank governor in a surprising move that some experts say strengthens outlook for rate cuts early next year.

Indian bonds are poised to gain as analysts bet on an interest-rate cut after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor.

The new governor of the Reserve Bank of India brings a pro-growth sensibility to the position that raises the likelihood of lower benchmark policy rates early next year.

As Shaktikanta Das finishes up his tenure as India’s central bank governor, handing over the reins to a career bureaucrat, many have praised his performance as a relative outsider who leaned on diplomacy to propel the world’s fastest-growing major economy to new heights.

India got a new central bank governor on Wednesday as the country’s economic growth slows and inflation surges.