Tuesday, October 27, 2009

Interest rates unlikely to go up (immediately)

"Instead of focusing on policy rate change, take steps to arrest rising consumer prices"

RBI's policy rate change:

Industry and individual borrowers can rest assured that any tweak in the RBI's policy rate on Tuesday may not have immediate bearing on their pockets, economists and policymakers said.

Enough funds to lend:

"There is enough liquidity in the system while deposit rates in banks currently are quite high at 20% in comparison to the credit rate of 14%," said D H Pai Panandiker, head of think tank RPG Foundation. This alone will ensure surplus funds to lend and would also keep a check on the interest rates, he added.

Prime Minister's Office:

Sources in the finance ministry said the central bank was unlikely to make any changes in the current interest rate regime as the government had conveyed to RBI governor D Subbarao that it was not in favour of an exit policy on stimulus till global recovery was in sight.

To read more, please, visit The Times of India

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1 comment:

  1. a very good news again to hear from RBI.its a rendering news to those who wish applying for home loan.a couple of days back i had an opportunity to take a home loan and know more on my financial issues from home loans

    hope it would be useful for you too.