But try this for political meanness. When Jayalalithaa addressed a mammoth public meeting in...
New Delhi: Exerting that food prices are still at high levels, the prime minister's economic panel today said that the Reserve Bank of India's (RBI) decision to tighten monetary policy further will depend on inflation (behaviour) in the month of December, reports PTI.
“Reserve Bank of India will decide (on monetary action) depending on behaviour of inflation in the month of December,” PM Economic Advisory Council chairman C Rangarajan told reporters here.
He further said that he expected wholesale price inflation to fall between 5.5%-6% by March 2011 from 8.62% in September this year.
Mr Rangarajan also said that there could be decline in food prices in the coming month.
In a bid to tame inflation, the RBI had earlier this month increased its short-term lending (repo) and borrowing (reverse repo) rates by 25 basis points to 6.25% and 5.25%, respectively. This was the sixth time in this fiscal that the apex bank had raised key lending and borrowing rates to cool inflationary pressures in the economy.
Don’t depend only on your bank if you want to shop for any financial product. Do your homework...