Inflation would be contained

Inflation would be contained

Friday, 06 April 2007, 05:00 Hrs
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New Delhi:Initiatives taken to contain the spiralling inflation would succeed soon, a top official of global banking conglomerate HSBC said.

"It's an interesting situation right now, market is very volatile. Inflation control is very high on the government's agenda. And I am sure it will be brought under control," said Naina Lal Kidwai, country head, HSBC India on the sidelines of a seminar here.

The annual rate of inflation was hovering at 6.46 percent since the last two weeks. However, it came down to 6.39 percent this week.

The Reserve Bank of India on Friday announced a hike in interest rates for short term lending to banks, leading to a hike in personal loans by many banks.
Source: IANS
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