Tuesday 11 November 2008

Scope for further RBI rate cuts - PM adviser

The Reserve Bank of India has some scope for further rate cuts and it may act if overnight cash rates move up, a top economic adviser to the Prime Minister said on Tuesday.

"I personally think there would be some scope for further rate cuts," Suresh Tendulkar, Chairman of the Prime Minister's Economic Advisory Council, told reporters when asked whether there was a need to cut the repo rate cut.

He also said he expected the wholesale price inflation rate would fall to single digits by early next year.

Source: Reuters

No comments:

Post a Comment

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.