Repo rate not to be cut: Jalan

Reserve Bank of India governor, Bimal Jalan, said on Monday there was no proposal to cut the repo rate as of now and added the bank's bias towards soft rates would continue.

He said the appreciation of the rupee against the dollar was "absolutely normal" and there was "nothing abnormal" about the rise.

He said the recent fall in inflation was a favourable development and expected inflation to ease further from the second quarter of 2003-04 (April-March).