January 25, 2011 6:57 PM

printer

RBI's rate hike will help contain inflation: Pranab

Finance Minister Pranab Mukherjee on Tuesday said the Reserve Bank's decision to hike short-term borrowing and lending rates will help contain inflation and was in line with the government's policy. Welcoming the RBI decision to increase short-term borrowing and lending rates by 25 basis points each, Mr. Mukherjee said it is aimed at giving a strong signal to tackle inflationary pressures. He added the RBI policy announcement is in conformity with the thinking and policy of the government. The apex bank has revised inflation target to 7 per cent by March-end, from 5.5 per cent projected previously.

Most Read
View All arrow-right

No posts found.