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No change in mid-term policy: RBI
By agencies
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Wednesday, 07 December 2005, 20:30 IST
MUMBAI: The chief of Reserve Bank of India today said there would be no change in the mid-term monetary policy to check inflation and market conditions.
"There is no change in the stand from the mid-term policy to check inflation and the market condition is stable," RBI Governor Y V Reddy said here.
Reddy also said that the foreign exchange and money market conditions are orderly.
"We still feel that Forex conditions are orderly, they are not unusual. Money market conditions are orderly. Government security market is orderly...Today I understand the equity market is also orderly," Reddy said.
He said the apex bank was in touch with the Finance Ministry with regard to movements in the Forex market.
When asked whether the RBI would increase gold reserves in its forex reserves, he said so far the government and RBI have been following passive gold policy.