Reddy appeals to financial mkt to manage order

"In the light of new information on inflation on Friday last, I had a detailed meeting with concerned professionals in the RBI on the same day to evaluate the emerging inflation scenario," he said talking to reporters here.

"I then called on the Finance Minister and the Prime Minister on Saturday and we had a detailed discussion," he informed. Reddy said, " We will now have further internal assessement to consider our stance and measures in the light of the discussions I had with the government on Saturday".
"We will also have consultations quickly with all concerned including the members of Technical Advisory Committee on Monetary Policy," he added.

The RBI governor said the apex bank had ensured "orderly conditions in money, government securities and the foreign exchange markets on a continous basis" through its operations.

He said, "We are currently in the midst of intensive examination of issues and options. In the process of difficult adjustment the RBI will play its part in moderating and managing aggregate demand so that pressures on prices are not intensified."