403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
RBI 'on course for inflation targets'
(MENAFN- Arab News) NEW DELHI: India's central bank governor said Sunday the country was on course to meet the bank's targets on reduced inflation adding that it was working with the new government on monetary policy.
Reserve Bank of India (RBI) governor Raghuram Rajan said the bank had started discussions with Prime Minister Narendra Modi's government on a monetary policy framework that includes measures to control inflation.
The RBI recently left the benchmark repo rate at which it lends to commercial banks unchanged at a steep 8.0 percent citing a need to clamp down on rising prices.
Retail inflation slipped to 7.3 percent in June and the RBI said earlier this year it was aiming for consumer-price inflation of 8.0 percent next January.
'We think at the current interest rate policy rate we are on course to meet those targets' Rajan said after a meeting of the RBI's central board in New Delhi.
'We will be discussing the monetary policy framework through the course of the year. Just now we have started a preliminary discussion (with the government)' he said.
Businesses have been clamouring for a cut saying high rates discourage investment needed to help India's economy get back on its feet.
Reserve Bank of India (RBI) governor Raghuram Rajan said the bank had started discussions with Prime Minister Narendra Modi's government on a monetary policy framework that includes measures to control inflation.
The RBI recently left the benchmark repo rate at which it lends to commercial banks unchanged at a steep 8.0 percent citing a need to clamp down on rising prices.
Retail inflation slipped to 7.3 percent in June and the RBI said earlier this year it was aiming for consumer-price inflation of 8.0 percent next January.
'We think at the current interest rate policy rate we are on course to meet those targets' Rajan said after a meeting of the RBI's central board in New Delhi.
'We will be discussing the monetary policy framework through the course of the year. Just now we have started a preliminary discussion (with the government)' he said.
Businesses have been clamouring for a cut saying high rates discourage investment needed to help India's economy get back on its feet.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment