RBI rate cut not seen on December 18: Rangarajan
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)
- Tweet this
- Share this
- Digg this
- Google's Pichai to oversee major products and services
- Two killed, four wounded in Washington state school shooting
- Reuters Poll - India's growth pace to pick up as reforms draw investment
- Modi takes tea, but no questions, in first press event as PM
- UPDATE 12-Two U.S. states to quarantine health workers returning from Ebola zones
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article