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Subbarao Says India May Not Raise Rates Until 2011

India’s central bank said it probably won’t raise interest rates in the next three months after tightening monetary policy the most in Asia this year.

“Immediate future rate action is unlikely barring some shocks,” Reserve Bank of India Governor Duvvuri Subbarao said at a press conference in Mumbai yesterday after increasing benchmark rates for a sixth time in 2010. “The question is what is immediate future? I would believe it is three months.”