HIGHLIGHTS - RBI governor on inflation
MUMBAI (Reuters) - The Reserve Bank of India (RBI) governor said on Monday inflation was unacceptably high and the bank was ready to act if needed but the situation was complex and required careful consideration.
Following are comments from Reserve Bank of India (RBI) Governor Yaga Venugopal Reddy to reporters after making a speech.
----------------------------------------------------------------
ON INFLATION:
"Inflation is unacceptably high. We did expect some pressure on inflation in the monetary policy on Jan 29. Our policy stance has taken note of these inflationary pressures. However inflation has turned out to be more than anticipated, in fact much more than anticipated."
"There is potential for inflationary pressure to be from the global side on Indian prices."
"We are very, very concerned about the impact of the recent spurt in prices on inflation expectations."
ON A POLICY RESPONSE TO INFLATION: Continued...
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
