23 Jan '11, 6am

India to raise key rates again

India to raise key rates again

NEW DELHI: India's central bank is expected this week to hike interest rates for the seventh time in less than 12 months to clamp down on soaring inflation as clouds gather over the country's booming economy. Shares in India, one of 2010's hottest markets, have fallen to three-month lows due to expectations of interest rate rises, which will dampen economic growth currently running at 8.5-9.0 per cent in Asia's third-biggest economy. Annual inflation zoomed in December to 8.43 per cent, up by nearly a percentage point from the previous month, led by a spike in the cost of food, petrol prices and commodities. The Reserve Bank of India (RBI) has warned of "surging inflation." Further souring the mood, investment house Goldman Sachs issued an alert this month on India and China over inflation, telling clients to shift into Wall Street and other Old World share markets as a sa...

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

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{ "market" : {"NAME" : "", "ID" : "sg", "TZ" : "", "TZOFFSET" : "28800", "open" : "", "close" : "", "flags" : ""} ,"STREAM...