Monday, November 29, 1999

RBI: inflation is bigger worry

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India's domestic inflation is a bigger concern than other global factors, Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarty said on Thursday."As of today inflation is definitely a cause of worry. You see international situation is not that volatile, it has some adverse implications. But I think more than that domestic inflation is definitely a matter of worry," Chakrabarty told reporters on the sidelines of an industry event."Double digit inflation is not an easy thing," he said.India's headline inflation unexpectedly accelerated in May, heightening expectations the RBI would raise rates before its scheduled July review despite concerns over Europe's debt crisis.(Reporting by Suvashree Dey Choudhury and Neha D'silva)

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