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Will not pre-judge whether rate hike needed: Pranab

Will not pre-judge whether rate hike needed: Pranab
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First Published: Mon, Nov 15 2010. 02 13 PM IST
Updated: Mon, Nov 15 2010. 02 13 PM IST
New Delhi: Finance minister Pranab Mukherjee on Monday said inflationary pressures are coming from the supply side and that the full impact of the central bank’s rate hikes on inflation had yet to be seen.
Finance minister also told reporters that he would not prejudge whether a further rate hike from the Reserve Bank of India is needed. Mukherjee said he expects headline inflation to ease to 6% by March 2011.
India’s annual headline inflation eased slightly in October to its lowest in 10-month, a figure that may allow the central bank to keep rates steady in coming months despite price rises still at uncomfortably high levels.
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First Published: Mon, Nov 15 2010. 02 13 PM IST
More Topics: Pranab Mukherjee | Rate hike | Inflation | RBI | Supply |