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Interest rates almost at peak: SBI

Interest rates almost at peak: SBI
PTI
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First Published: Wed, Aug 13 2008. 12 29 PM IST
Updated: Wed, Aug 13 2008. 12 29 PM IST
New Delhi: Country’s largest lender State Bank of India on Wednesday said interest rates have almost peaked and is unlikely to change unless RBI took any further action.
“It (interest rate) has peaked or nearly peaked... unless there is any further course of action” by RBI, SBI’s chairman O P Bhatt told reporters here.
Oil prices are softening, monsoons are good, commodity prices, except steel, seem to have peaked and demand pull because of Olympics also seems to be over, he said.
Global economy is slowing down and there seems to be enough reasons that interest rates have peaked or have nearly peaked.
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First Published: Wed, Aug 13 2008. 12 29 PM IST