Thursday, September 16, 2010

A bank with brains!

India Raises Interest Rates a Fifth Time to Contain Inflation

The Reserve Bank of India increased interest rates for the fifth time this year and said its actions have brought the “monetary situation close to normal.” RBI Governor Duvvuri Subbarao boosted the repurchase rate to 6 percent from 5.75 percent, and the reverse repurchase rate a half point to 5 percent, the bank said in Mumbai today. “The role of normalization as a motivation for further actions is likely to be less important,” the statement said.

Posted by mark @ 11:54 AM (1094 views)
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3 thoughts on “A bank with brains!

  • They have got the right idea!

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  • Those seeking returns have moved towards E.M. assets so of course such countries must attempt to curb the resulting inflation.

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  • Raising interest rates to curb inflation – ahhh brings back memories of the good old days when we could do that

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