Home > Business > Reuters > Report

No plans to cut repo rate now: RBI

June 16, 2003 11:13 IST

The central bank deputy chief said on Monday that the monetary authorities were unlikely to lower the repo rate from the current five per cent for quite some time.

"It is too early to say anything on the monsoon's progress. There is no change in our earlier statement on the repo rate," Deputy Governor of the Reserve Bank of India, Rakesh Mohan, told reporters on the sidelines of the Asian Currency Union meeting.

"Inflation is going just as we expected. It is down to 5.44 per cent."

Expectations of a domestic repo rate cut have firmed in recent weeks on the back of a global easing cycle and falling inflation.

India's wholesale prices rose 5.44 per cent in the 12 months to May 31, compared with a rise of 5.65 per cent in the year to the previous week.


Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


Re may rise more on RBI comments

No repo rate cut now: RBI

RBI sticks to 6% growth projection



People Who Read This Also Read


Car sales zoom 41% in May

Indian economy growing fastest

RIL scheme for shareholders




© Copyright 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.








Copyright © 2003 rediff.com India Limited. All Rights Reserved.