Rajan meets Chidambaram ahead of monetary policy review

Tags: News
Ahead of the next monetary policy review next week, Reserve Bank Governor Raghuram Rajan today met Finance Minister P Chidambaram.

Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next monetary policy review on April 1.

India Inc is hopeful this time the RBI will cut interest rates to boost growth, taking into account declining inflation.

The central bank had increased a key interest rate to 8 per cent from 7.75 per cent at its previous monetary policy review on January 28.

The annual rate of inflation, based on the monthly wholesale price index, stood at 4.68 per cent in February, slipping below 5 per cent for the first time in nine months as onion and potato prices eased.

Retail inflation was at a 25-month low of 8.1 per cent in February.

The country's economic growth slipped to a decade-low of 4.5 per cent in 2012-13 and is estimated at 4.9 per cent in the current financial year.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • It’s another challenging year for a govt that’s missed 20 of 24 targets

    The government has set an ambitious target for money to be raised through sale of public sector company shares.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Corruption law calls for correction

In any country, it is its laws against corruption that ...

Kuruvilla Pandikattu SJ

Believers of the world set to rise

The world is set to become more religious as the ...

Gautam Gupta

The changing face of the fashion world

Indian fashion industry, like every fashion industry in the world, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture