PM adviser Rangarajan says more interest rate cuts possible
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)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
India's largest carmaker Maruti Suzuki India Ltd posted a smaller-than-expected rise in profit for the third quarter, hit by one-off items including a jump in advertising costs, a higher tax rate and lower income from investments. Full Article | Full coverage