IMF says policy rates in India still high
The Economic Times, April 24, 2009, Economy, Finance & Markets.
WASHINGTON: The International Monetary Fund on Wednesday said that policy rates of the Reserve Bank are high, even as the central bank had cut the short-term lending and borrowing rates by 25 basis points each yesterday.
"Policy rates remain high in real terms in India and further rate cuts would help bolster credit growth," IMF said in its latest World Economic Outlook.
There is room for additional monetary easing in a number of economies, it said.
The RBI had yesterday slashed short term lending (repo) and borrowing (reverse repo) rates by 25 basis points each to 4.75 per cent and 3.25 per cent respectively.
The Economic Times, April 24, 2009, Economy, Finance & Markets.
WASHINGTON: The International Monetary Fund on Wednesday said that policy rates of the Reserve Bank are high, even as the central bank had cut the short-term lending and borrowing rates by 25 basis points each yesterday.
"Policy rates remain high in real terms in India and further rate cuts would help bolster credit growth," IMF said in its latest World Economic Outlook.
There is room for additional monetary easing in a number of economies, it said.
The RBI had yesterday slashed short term lending (repo) and borrowing (reverse repo) rates by 25 basis points each to 4.75 per cent and 3.25 per cent respectively.
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