We are monitoring inflation: Reddy
By Our Banking Bureau | 13 Aug 2004
1
Mumbai: Reserve Bank of India Governor Y.V. Reddy said yesterday that authorities were monitoring inflation carefully and would respond in a measured manner to trends in inflation.
"The Reserve Bank of India (RBI) is monitoring developments carefully. In particular, the RBI is analysing how the imported oil shock is turning out globally and how it is being absorbed domestically," Reddy said.
Earlier this week, the governor said the recent spike in inflation was due to a surge in global crude and commodity prices, but said growth would be sustained by measured policy initiatives.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
