Prime minister's economic advisor C Rangarajan said on Friday he doesn't expect the central bank to cut interest rates at its next policy meeting on December 18. Asia's third largest economy is headed for the weakest full-year growth in a decade, at about 6 per cent, far below the near double-digit pace before the global economic downturn. But despite the slowdown, the Reserve Bank of India ( RBI) has not lowered interest rates since April because inflation has remained near 7 per cent, exacerbated by a weak rupee that has added to the cost of fuel imports.

Source - http://economictimes.indiatimes.com