Reserve bank governor said on Sunday the country was on course to meet the bank’s targets on reduced inflation, adding that it was working with the new government on monetary policy.
Raghuram Rajan said the bank had started discussions with the government on a monetary policy framework that includes measures to control inflation.
The RBI on Tuesday left the benchmark repo rate, at which it lends to commercial banks, unchanged, at a steep 8.0 percent, citing a need to clamp down on rising prices.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.