Will Interest Rates Go Up In The New Fiscal?
Low rates to continue
PRADEEP DOKANIA
Executive vice-president DSP Merrill Lynch
Interest rates in India have historically followed the direction given by policymakers coupled with a supportive environment. In the next fiscal 2003- 2004 we expect the broad trend of lower interest rates to continue.
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We also expect policy to continue to strive to direct interest rates lower. Both policy makers, the government of India and the Reserve Bank of India (RBI), have clearly indicated their bias for soft interest rates.
Before moving forward to expectations it would be useful to note that there are a number of