Published on Fri, Jul 23, 2010 at 21:39 | Source : Reuters
Updated at Fri, Jul 23, 2010 at 23:20
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Discussed inflation with FinMin: D Subbarao
Reserve Bank of India (RBI) governor Duvvuri Subbarao said he discussed the country's macro-economic situation and inflation with Finance Minister Pranab Mukherjee on Friday, ahead of the Reserve Bank of India's quarterly policy review on Tuesday.
Reserve Bank of India (RBI) governor Duvvuri Subbarao said he discussed the country's macro-economic situation and inflation with Finance Minister Pranab Mukherjee on Friday, ahead of the Reserve Bank of India's quarterly policy review on Tuesday.
Earlier on Friday, a top Indian government adviser called for strong monetary policy action to combat high inflation, days before the central bank is set to raise rates for the fourth time this year.
Wholesale prices, India's most closely watched inflation measure, have risen more than 10% from a year earlier for the past five months.
In response, the central bank is widely expected to raise both its repo and reverse repo rates on Tuesday by 25 basis points, taking them to 5.75% and 4.25%, respectively.
