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Curbs on crop prices boost odds of India rate cut

Published Thu, Jun 18, 2015 · 09:50 PM
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New Delhi

THE door to another interest-rate cut in India has cracked open an inch after Prime Minister Narendra Modi's government limited gains in guaranteed prices for rice to levels not seen since 2006 and kept a lid on lentil costs. That will please central bank governor Raghuram Rajan, who this month stressed the "strong correlation" between Asia's second-fastest inflation and guaranteed agricultural purchase prices.

"The RBI had been quite explicit this is what the…

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