RBI rate cut not seen on December 18: Rangarajan

NEW DELHI Fri Dec 14, 2012 11:38am IST

A vendor rests next to sacks of onions at a wholesale vegetable market in Kolkata March 16, 2012. REUTERS/Rupak De Chowdhuri/Files

A vendor rests next to sacks of onions at a wholesale vegetable market in Kolkata March 16, 2012.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

NEW DELHI (Reuters) - The prime minister's economic advisor C Rangarajan said on Friday he doesn't expect the RBI to cut interest rates at its next policy meeting on December 18.

Asia's third largest economy is headed for the weakest full-year growth in a decade, at about 6 percent, far below the near double-digit pace before the global economic downturn.

But despite the slowdown, the Reserve Bank of India has not lowered interest rates since April because inflation has remained near 7 percent, exacerbated by a weak rupee that has added to the cost of fuel imports. (Reporting by Arup Roychoudhury; Editing by Jijo Jacob)

FILED UNDER:

REUTERS EXCLUSIVE

Reuters Showcase

Documents' Leak

Documents' Leak

India widens oil leaks probe to defence ministry  Full Article 

Jim O’Neill Interview

Jim O’Neill Interview

'India can become world’s fifth-largest economy by decade’s end'  Full Article 

Food Security

Food Security

India will not cut multi-billion dollar food handout programme - PM  Full Article 

Ola's Expansion Drive

Ola's Expansion Drive

Taxi group Ola steps up expansion drive  Full Article 

Sahara Saga

Sahara Saga

Sahara's Grosvenor House hotel in London put up for sale   Full Article 

Suzlon Energy

Suzlon Energy

Suzlon expects to turn profitable in fiscal 2016: chairman   Full Article 

Eicher Motors Stake

Eicher Motors Stake

Volvo selling up to $300 mln worth of Eicher shares  Full Article 

Beef Trade

Beef Trade

Maharashtra clamps down on beef trade through new act  Full Article 

Budget 2015

Budget 2015

Budget announcements and reactions from the industry  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage