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RBI to go tough on inflation
Sunday, 20 April, 2008
Concerned over rising inflation, Reserve Bank of India is set for tough monetary policy measures to contain inflation.
The inflation number which stands above 7% would pressurise RBI to take more fiscal measures on monetary policies. With this RBI is likely to hike 0.25-0.5 per cent in the repo rate in addition to the last week's 0.5 per cent (CRR) hike.
Meanwhile Finance Minister P Chidambaram said that the current levels of price hikes could be mainly attributed to imported inflation ie, rise in prices of imported commodities in the country.
--MP
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