Friday, September 18, 2009

Interest rates may go up by year-end

“RBI particularly has to guard against inflation”
The economy is showing the signs of recovery and interest rates are set to rise by the end of the current fiscal, said C Rangarajan, chairman of the Prime Minister’s Economic Advisory Council.

“The improvement in credit off-take will push up demand for credit, as the economy recovers. Interest rates may harden a little bit by end of the fiscal,” he said at a conference on global economic meltdown on Thursday. Read More
Economists see inflation hitting 7-8% by March 2010, prompting the Reserve Bank of India (RBI) to hike interest rates:
Consumer price index inflation has proved remarkably stubborn and there is a risk of further rises ahead. The RBI governor, Dr D Subbarao, has become more worried about inflation, raising the possibility that the cash reserve ratio of banks…will be hiked before the end of calendar 2009. Read More

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