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‘RBI may revise CRR, repo rates in October’
Wednesday,5th September 2007
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The Reserve Bank of India (RBI) may raise the
interest
rates in the credit policy review meetings in
October 2007 and January 2008. The revision may take place according to the Credit Suisse Group’s report on Asia Ex-Japan inflation, which expects the inflation in India to accelerate till December 2007 and then calm down in the period from January to March 2008. The report also says that RBI may hike the repo rate by 25 basis points at the credit policy review meetings in October 2007 and January 2008 to bring the repo rate to 8.25 per cent. The report also foresees a hike in the cash reserve ratio (CRR) by 50 basis points to 7.5 per cent by end-2007. The statistics are based on the assumption that global financial markets jitters recede in the coming months. |
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