RBI monetary action will depend on Dec inflation


30/11/2010 00:00 AST  The Hindu Business Line

Exerting that food prices are still at high levels, the Prime Minister’s Economic Panel has said that the Reserve Bank of India’s decision to tighten the monetary policy further will depend on inflation (behaviour) in December.

“Reserve Bank of India (RBI) will decide (on monetary action) depending on the behaviour of inflation in the month of December,” the PM Economic Advisory Council Chairman, Dr C. Rangarajan, told reporters here on Tuesday.

He further said that he expected the wholesale price inflation to fall between 5.5-6 per cent by March 2011 from 8.62 per cent in September this year.

Dr Rangarajan also said that there could be a decline in food prices in the coming month.

To tame inflation, RBI had earlier this month increased its short-term lending (repo) and borrowing (reverse repo) rates by 25 basis points to 6.25 per cent and 5.25 per cent, respectively. This was the sixth time this fiscal that the apex bank had raise d the key lending and borrowing rates to cool the inflationary pressures in the economy.

Global News
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | News Archive

JAN | FEB | MAR | APR | MAY | JUN
Most Viewed News
Most Viewed Companies
Ticker Price Volume
RIBL 24.6 131,888
ALKHODARI 31 248,602
EMAAR 5.66 7,755,492
WATANIYA 100.75 406,050
NBAD 12.35 148,689
SAGRINSURANCE 24.2 417,215
UCA 36.2 102,751
Recent News

Malaysian Inflation Rises To 1.8% In May
Malaysia's consumer price inflation increased in May, data released by the Department of Statistics showed Wednesday. Economists had forecast inflation to stay unchanged.

Inflation as pe

U.K. Stocks Are Little Changed Before Fed Statement
U.K. stocks were little changed, erasing earlier losses, as investors awaited the outcome of a Federal Reserve policy meeting for signals about when the central bank will scale back stimulus measures

Sensex trading flat; Power, IT stocks trip
Indian markets were trading marginally in the red due to selling by funds and retail investors in select stocks owing to weak global cues.

At 2.37 p.m., the 30-share BSE index Sensex was

Orixcom goes live with Cloud and Connectivity services in datamena
datamena, the carrier neutral data centre and connectivity platform based in the UAE and servicing the Middle East and Africa (MEA) region, is pleased to announce that Orixcom, a fast-growing operato

Mawarid Finance signs MoU with Redha al Ansari Exchange
Mawarid Finance Group and UAE-based Redha Al Ansari Exchange signed yesterday (18 June) an MoU to provide the Labour Guarantees of the Ministry of Labour through the branches of Redha Al Ansari Excha

Research Reports
Saudi International Petrochemical -Equity Report -19-06-2013 Yanbu National Petrochemicals -Equity Report -19-06-2013 Saudi Basic Industries -Equity Report -19-06-2013 CBO Annual Report 2012 Saudi Petrochemical Industry more..
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?