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As Inflation Shoots To 13-Year High Of 11%, RBI May Turn More Hawkish
Posted on June 20, 2008
Setting alarm bells, India s inflation has shot into a 13-year high of 11.05 per cent last week. This is likely to put the government on a defensive streak and central bank much hawkish than what it is. It remains to be seen if Reserve Bank of India would take any stringent measures like a hike in cash reserve ratio, or a repo rate hike, to arrest the galloping inflation.But some measures are expected now. Reacting to the news, Bombay Stock Exchange s benchmark Sensex dropped to its lowest level in 2008 to 14,648, down 440 per cent or 2.92 points. National Stock Exchange s Nifty lost 2.9...
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