The Reserve Bank of India (RBI) today said it is open to a hike in key policy rates if the situation so warrants, even though there is an indicative pause on such a measure for three months.
“The governor said that it may not be necessary ...but that does not mean if the pause is there you cannot do that (read rate hike).
If it needs to be done, it can be done, that is his choice (read Governor),” the RBI Deputy Governor, Mr K C Chakrabarty today said when asked if the central bank can still hike rates despite its indication for a pause in the November policy.
On November 2, RBI Governor Mr D Subbarao had said, “The likelihood of further rate actions in the immediate future is relatively low.”
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