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Mar 14, 2013
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Rate-cut chances brighten after RBI Governor Subbarao praises 'responsible budget'
Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Wednesday sent the strongest ever signal that he would walk with Finance Minister P Chidambaram to revive economic growth by acknowledging the credibility of the fiscal consolidation plan presented in the Union Budget.His declaration that the recent budget has "firmly embraced fiscal responsibility by restraining the fiscal deficit next year", in a speech at the London School of Economics (LSE) on Wednesday, raises the prospects of an interest rate cut when Subbarao presents his mid-quarter monetary policy review on Tuesday.
Source -
http://economictimes.indiatimes.com
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