After several hours of closed-door consultations, India?s central bank announced on the morning of the 18th, to continue to maintain the existing benchmark the rate 8% unchanged, at the same time rate remains at 4.25% level. After the announcement, the stock market performance in India stable, greater volatility in the financial sector did not appear, in line with expectations.
According to Xinhua reports, India?s central bank said in a public statement that this is the best possible decision in the case, the level of inflation is still hovering, but also on the current economic situation in India, the central bank to make a new judgment, the future policy adjustments the focus will be more focused on promoting economic growth.
Government of India has released the 17th report lowered growth expectations this fiscal, but also believes that the Indian economy has bottomed out, and began a slow recovery.
Recently, the Reserve Bank of India had consecutive rate hikes to curb high inflation. However, sluggish economic growth, now 4, the Reserve Bank of India , reference to interest rate down to 8%, and remains today. The market expects the Indian economy is substantial growth in the next quarter, the Reserve Bank of India is likely to open cut channel early from 2013 .
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