November 12, 2002 | 1158 IST
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Money > Reuters > Report November 12, 2002 | 1158 IST |
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Jalan expects inflation to be low
The Reserve Bank of India chief Bimal Jalan on Tuesday said he expected inflation to be low in the current financial year to March and saw no upward pressure on interest rates. "Interest rates are the lowest in 30 years and I don't see pressure on that account," he said in a speech on the Indian economy to a gathering of industrialists. The Reserve Bank of India cut its key interest rates like the bank rate and the repo rate by 25 basis points in its policy review on October 29. It retained its earlier estimate for the inflation rate at around four percent, despite the worst drought in 15 years. India's year-on-year inflation rate measured by the wholesale price index rose marginally to 3.02 per cent in the week ended October 26 from 2.89 per cent in the previous week. ALSO READ:
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