(Bloomberg) -- India’s central bank signaled it’s set to raise interest rates again after an unscheduled increase last week, on concern that increased consumer spending and higher fuel prices will stoke inflation.
The Reserve Bank of India, led by Governor Duvvuri Subbarao, on July 2 boosted the reverse repurchase and repurchase rates by a quarter point each, to 4 percent and 5.5 percent, and added it will “take further action as warranted.”
Subbarao may follow with another quarter point at the bank’s next meeting on July 27, Royal Bank of Scotland Group Plc and Barclays Plc said. India is acting ahead of counterparts in Asia from South Korea and Indonesia to the Philippines and Thailand as dangers from the fastest inflation among the Group of 20 nations outweigh risks from Europe’s debt crisis.
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