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RBI may need to keep tight monetary policy longer: IMF

IMF said the monetary stance remains appropriately tight for achieving near-term inflation objectives

Press Trust of India  |  Washington 

Amid widespread expectations that Reserve Bank of India may further cut interest rates, the International Monetary Fund has said the central bank may require a "tight monetary stance for longer". With Finance Minister Arun Jaitley sticking to the fiscal deficit target of 3.5% in Budget 2016-17, there are rising expectations that the apex bank might ease interest rates during its policy meet next month. In its staff report on India, IMF said the monetary stance remains appropriately tight for achieving near-term inflation objectives. "Following the formal adoption of ...

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First Published: Thu, March 03 2016. 13:35 IST
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