Reserve Bank of India Deputy Governor KC Chakrabarty today said he did not see the need for monetary tightening before the policy review in July.
“As of now, no,” Chakrabarty told reporters when asked whether RBI saw the need for any policy action before its next review. The central bank had raised repo and reverse repo rates by 25 basis points each, and also raised banks’ cash reserve ratio in its April policy. It expects inflation rate to be 5.5 per cent by March 2011.
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