Inflation above acceptable levels: Subbarao
On Monday, the RBI left policy interest rates for banks unchanged
Inflation in India is still above acceptable levels, the Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday at an industry event.
On Monday, the RBI left policy interest rates and cash reserve minimums for banks unchanged, disappointing investors and defying calls from government officials and companies for looser monetary policy, putting the burden on the government to bolster sagging growth.
In May, the wholesale price index (WPI) accelerated to 7.55 percent from a year-earlier, leaving less room for monetary easing.