14 Dec '11, 4am

India's central bank tipped to hold rates: MUMBAI: India's central bank is likely to keep interest rates on hold...

India's central bank tipped to hold rates: MUMBAI: India's central bank is likely to keep interest rates on hold...

MUMBAI: India's central bank is likely to keep interest rates on hold this week, analysts and economists said, as policymakers prepare to meet amid fresh signs of a slowdown in the fast-growing economy. The Reserve Bank of India (RBI) is due to review monetary policy on Friday, having said in October that the likelihood of another hike in rates was "relatively low". The RBI's repo rate, at which it lends to commercial banks, is at a near three-year high of 8.50 per cent. The reverse repo rate that it pays banks for deposits is at 7.50 per cent -- its highest in more than a decade. Governor Duvvuri Subbarao maintains that the succession of 13 rises since March last year was designed to tame spiralling inflation running at nearly 10 per cent, even if it means that short-term growth takes a hit. But predictions of a softening of the bank's hawkish stance have grown amid fears...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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