FM discusses rising prices with RBI Governor, ahead of policy

Tuesday, 02 November 2010, 15:01 IST
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New Delhi: Concerned over rising prices, Finance Minister Pranab Mukherjee today said that he has taken up the issue with the Reserve Bank, which is scheduled to announce its mid-year monetary policy review tomorrow. "Inflation is a matter of concern. The main reason for the high level of inflation is food prices. Inflation (is expected) to further go down to a more acceptable level," he told reporters on the sidelines of an IBA conference here. When asked about the possible rate hike action by the central bank, Mukherjee said, "Let us wait. RBI policy statement will be made shortly... I am in discussion with RBI Governor (D Subbarao)." Subbarao had met Mukherjee on Friday and is believed to have discussed macro-economic situation with him.
Source: PTI
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