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India cbank not biased towards either raising or cutting rates - Gov
October 1, 2014 / 9:29 AM / 3 years ago

India cbank not biased towards either raising or cutting rates - Gov

MUMBAI, Oct 1 (Reuters) - The Reserve Bank of India is not biased towards either raising or cutting interest rates, and its monetary policy stance will depend only on inflation data, central bank governor Raghuram Rajan told analysts in a conference call on Wednesday.

“As data comes in we will have a better view of what is happening and adjust accordingly, so I shouldn’t assume that we’re either biased towards raising rates or cutting rates at this point,” Rajan said.

The RBI kept its key policy repo rate unchanged at 8.0 percent on Tuesday and said it will refrain from cutting interest rates until it is confident that consumer inflation can be reduced to a target of 6 percent by January 2016.

Reporting by Swati Bhat; Writing by Himank Sharma; Editing by Rafael Nam

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