http://www.moneyspidery.com/2012/02/03/no-room-for-aggressive-rate-cuts-rbis-gokarn/
MUMBAI:
(Reuters) – There is no room for aggressive rate cuts in India in the current situation, Subir Gokarn, a deputy governor of the Reserve Bank of India, told CNBC-TV18 on Friday.
Gokarn said a cut in the interest rates was the next logical step but would depend on other macro-economic factors.
The RBI cut banks’ cash reserve ratio, or the amount banks have to maintain with the central bank, by 50 basis points to 5.5 percent in its policy review on January 24 but kept its key policy rate unchanged.
MUMBAI:(Reuters) – There is no room for aggressive rate cuts in India in the current situation, Subir Gokarn, a deputy governor of the Reserve Bank of India, told CNBC-TV18 on Friday.
Gokarn said a cut in the interest rates was the next logical step but would depend on other macro-economic factors.
The RBI cut banks’ cash reserve ratio, or the amount banks have to maintain with the central bank, by 50 basis points to 5.5 percent in its policy review on January 24 but kept its key policy rate unchanged.
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