Interest rates

There have been indications from the US that large interest rate reduction is on the anvil to avoid (or reduce the effect of) recession due to the sub-prime crisis. In India, the bankers seem to suggest that if the macroeconomic policies are left intact, i.e.the CRR or lending rates are not raised, then there is a case of the banks to reduce the rates. A reduction in interest rates would be a boost for the markets. I think particularly, demand for housing loans will again see a rise, bringing along an increase in real estate.