Monday, November 29, 1999

Subbarao: Will keep to calibrated policy exit

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India's inflation is getting more generalised and demand-side pressures are building, but a calibrated exit from loose monetary policy remains the Reserve Bank's stance for now, Governor Duvvuri Subbarao said on Friday.He was speaking to reporters on the sidelines of a conference in the southern Indian city of Hyderabad.On Thursday, Reserve Bank of India (RBI) deputy governor K.C. Chakrabarty and top government adviser C. Rangarajan had said they were concerned about soaring prices, moving bond yields off day lows as investors saw a greater chance of an early interest rate hike despite a slight easing in food and fuel price inflation.(Reporting by Swati Bhat; Editing by Ranjit Gangadharan)(For more business news on Reuters India click
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