Reserve Bank of India’s recently appointed governor on reuters after the earlier repo hike to 7.75%
- we’ve taken some action which will be helpful
- at this point we will wait for data
- we believe at this point interest rates are consistent with our forward projections
- we haven’t changed goal posts as far as WPI is concerned
- can not live without double digit CPI
- if growth comes in much weaker than we think then some action can be taken
- monetary policy,going forward, will take over as interest rate corridor is brought down to 100 bps
Add:
- still need to bring WPI down to 5% as per original objective
- strong core CPI rise “has us worried”
- we are providing a ” fair amount of liquidity” to the market
- oil companies window is operational and the exit will occur in a calibrated manner
