PM adviser Rangarajan says more interest rate cuts possible

NEW DELHI Tue Jan 29, 2013 12:17pm IST

Indian Prime Minister's economic advisory council chairman C. Rangarajan pauses during an interview with Reuters in New Delhi June 12, 2010. REUTERS/B Mathur/Files

Indian Prime Minister's economic advisory council chairman C. Rangarajan pauses during an interview with Reuters in New Delhi June 12, 2010.

Credit: Reuters/B Mathur/Files

Related Topics

NEW DELHI (Reuters) - The RBI could make more cuts to the repo rate if inflation remains on projected lines, the prime minister's economic adviser C Rangarajan said on Tuesday.

The Reserve Bank of India (RBI) reduced its policy interest rate by a widely expected 25 basis points on Tuesday. The bank took comfort from cooling inflation to make the first cut in nine months, in support of an economy headed for its slowest growth in a decade.

The RBI said there was increasing likelihood of inflation remaining range bound around current levels heading into the 2013/14 fiscal year, starting April.

(Reporting by Arup Roychoudhury; Editing by Frank Jack Daniel)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

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