“RBI particularly has to guard against inflation”The economy is showing the signs of recovery and interest rates are set to rise by the end of the current fiscal, said C Rangarajan, chairman of the Prime Minister’s Economic Advisory Council.
“The improvement in credit off-take will push up demand for credit, as the economy recovers. Interest rates may harden a little bit by end of the fiscal,” he said at a conference on global economic meltdown on Thursday. Read More
Economists see inflation hitting 7-8% by March 2010, prompting the Reserve Bank of India (RBI) to hike interest rates:Consumer price index inflation has proved remarkably stubborn and there is a risk of further rises ahead. The RBI governor, Dr D Subbarao, has become more worried about inflation, raising the possibility that the cash reserve ratio of banks…will be hiked before the end of calendar 2009. Read More
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