Don’t expect RBI rate on December 18: Rangarajan

Don’t expect RBI rate on December 18: Rangarajan Zeebiz Bureau

New Delhi: The prime minister's economic advisor C Rangarajan on Friday said that he doesn't expect the RBI to cut interest rates in its next policy meeting scheduled for December 18.

Asia's third largest economy is headed for the weakest full-year growth in a decade, at about 6 percent, far below the near double-digit pace before the global economic downturn.

But despite the slowdown, the Reserve Bank of India has not lowered interest rates since April because inflation has remained near 7 percent, exacerbated by a weak rupee that has added to the cost of fuel imports.

With Agency Inputs