Subbarao says no housing bubble building up

There is no housing price bubble building up in India, Reserve Bank of India Governor Duvvuri Subbarao said on Monday in a post-policy conference call with analysts.

The RBI cut interest rates on Friday by a quarter point for the third time since January, but said there is little room for further policy easing, disappointing investors and putting the onus on the government to revive a moribund economy.