Did not hint at rate hike pause by RBI: Kaushik Basu

Chief economic adviser Kaushik Basu clarified on Thursday he was not hinting at a rate pause by the Reserve Bank of India (RBI).

July 14, 2011 / 14:52 IST

Chief economic adviser Kaushik Basu clarified on Thursday he was not hinting at a rate pause by the Reserve Bank of India (RBI).

Earlier, traders had said a news agency cited Basu as saying there was a case for a pause in the rate hike cycle. He is not directly involved in monetary policy decisions by the RBI.

Basu also said he expects a "sharp" pick-up in foreign direct investment flows in the fiscal year 2011/12 that ends in March.

first published: Jul 14, 2011 01:47 pm

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