India's central bank said to be cautious despite pressure for interest rate cuts
Mumbai
THOUGH the Reserve Bank of India (RBI) is expected to cut interest rates next week by a quarter per cent to a four-year low, officials say concern over prices makes it likely to resist political pressure for significant easing in the coming months.
In growing contrast with the government, which is desperate to accelerate a sluggish recovery, an increasingly independent RBI under governor Raghuram Rajan remains focused on a long-term inflation target of 4 per cent and ending decades of damaging price volatility.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Biden now calls ally Japan ‘xenophobic’ along with China, Russia
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low
Hong Kong holds rate as Fed signals inflation concerns
Australian business strength is shocking even its biggest lender
South Korea’s factory activity shrinks in April, but optimism about outlook ticks up