RBI's Subir Gokarn Says India Inflation Remains High Despite Good Monsoon
Reserve Bank of India Deputy Governor Subir Gokarn said inflation remains high in the nation despite a good monsoon, driven by increases in food prices.
The central bank will take a “wait-and-watch” approach to managing interest rates in the immediate future, Gokarn said at a business conference in Mumbai today.
A liquidity deficit in the financial system, while desirable, has gone too far in recent weeks and may cause excessive volatility in short-term rates, he said.
To contact the reporter on this story: Ketaki Gokhale in Mumbai at email@example.com
To contact the editor responsible for this story: Chitra Somayaji at firstname.lastname@example.org