Online edition of India's National Newspaper
Friday, Dec 15, 2006
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Online edition of India's National Newspaper Friday, Dec 15, 2006 ePaper |
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Special Correspondent
NEW DELHI: The Reserve Bank of India has put liquidity, inflation and credit growth under the scanner to assess if more steps are required to tighten the monetary system. Speaking to newspersons on the sidelines of a conference organised by ICRIER here on Thursday, RBI Deputy Governor Rakesh Mohan said: "Everything depends on evolving circumstances...have to look at inflation, liquidity and credit growth", when asked if the Central bank planned a pause on tightening the monetary system. The Reserve Bank of India, it may be recalled, had announced a 0.5 percentage point increase in the cash reserve ratio last week as part of its strategy to contain inflation. Dr Mohan said although the RBI did take international developments into consideration, there were no direct links between domestic interest rates and moves by the US Federal Reserve which, in recent days, decided against tinkering with interest rates in view of the slowdown in U.S. economic growth.
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