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I R Hike Likely In India This Week

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- By PTI

New Delhi, April 14:
Bankers expect Reserve Bank of India to hike its short term interest rates by 0.25 per cent next week
to contain price rise, as economic growth and credit demand continues to be robust. Cash Reserve Ratio (CRR) at 5 per cent is likely to be left untouched, as the liquidity situation had improved, they said on the forthcoming RBI annual monetary policy to be announced on April 18.
"There could be a 0.25 per cent increase in rates (Repo and Reverse Repo — the rates at which RBI buys and sells funds)," said the chairman of Oriental Bank of Commerce, N. Prithviraj. The RBI had raised the Reverse Repo, the rate at which it absorbs funds from banks, by 0.25 per cent in January to 5.5 per cent, citing upward movement in prices of property, equity and gold.
The central bank had also raised the Repo Rate
, the rate at which it lends overnight funds to banks, by 0.25 per cent to 6.5 per cent.

And another one hikes the rates.....tick tock, tick tock is Gordon getting worried yet?

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