Inflation in Asia's third-largest
economy, India, was still high so there is no point in lowering
interest rates as this will further accelerate inflation, said Reserve
Bank Of India's (
RBI's) governor
Raghuram Rajan.
The central bank wants to bring down interest rates when it is "feasible", said Rajan.
The RBI tracks
Retail inflation for setting lending rates, edged down marginally to 7.8 per cent in August from 7.96 per cent a month earlier,
Helped by slower annual rises in prices of fuel and clothes, retail inflation edged down marginally to 7.8% in August from 7.96% a month earlier. The RBI tracks retail inflation for setting lending rates.
(Image: indiatimes)
