Ahead of its mid-quarterly policy review, the Reserve Bank on Monday hinted at cut in interest rates, saying moderation in inflation due to lower economic growth and cooling global oil prices provide room for easing monetary policy.
“.. The growth is somewhat lower than expectation and that may have positive, moderating impact on core inflation,” said Dr Subir Gokarn, Deputy Governor, RBI.
“... Oil prices have come off somewhat more than expected. Those are the two factors that suggest more room (for easing monetary policy),” he said.
The central bank is scheduled to announce its first mid-quarter review of monetary policy for 2012—13 on June 18.
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