RBI unlikely to cut rates on Dec 18, CRR cut possible: Report
Agencies: New Delhi, Dec 10 2012, 17:48 IST
rate in 2011-12 slipped to a nine-year low of 6.5 per cent.
According to the official data, the Indian economy grew by 5.3 per cent in the July-September period this year, while in the quarter ended June 30, the economy grew by 5.5 per cent.
Inflation as measured by all indices has remained elevated and Wholesale Price Index-based inflation has remained above the Reserve Bank's comfort zone of 5-5.5 per cent for nearly three years now.
The RBI is scheduled to announce its mid-quarter monetary policy review on December 18.
Reserve Bank governor D Subbarao has resisted a widespread call for the growth-propping rate cuts for some time now, citing the elevated inflation.
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