RBI may raise policy rates to rein in inflation

Thursday, October 28, 2010
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New Delhi: The RBI may go for another round of hiking the short term lending and borrowing rates by 25 basis points each, next week on concerns of high inflation, a Ficci survey said. The RBI move to raise short term policy rates is likely to reduce demand for consumer durables, it said. The Reserve Bank is scheduled to announce its second quarterly monetary policy review on November 2. "Majority of the participating economists expect RBI to further hike both the repo and the reverse repo rate on November 2, 2010, by 25 basis points each," said the Ficci Economic Outlook Survey. Repo is a short-term lending rate of RBI to banks, while reverse repo is short-term borrowing rate.
Source: PTI
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