RBI today injected Rs 32,000 crore into the system by lowering the Cash Reserve Ratio (CRR) by half-a-percentage point but kept the short-term lending rate unchanged in view of persisting inflationary concerns.
“Based on the current inflation trajectory, including consideration of suppressed inflation, it is premature to begin reducing the policy rate,” RBI Governor D Subbarao said while unveiling the third quarterly monetary policy review.
From: http://ping.fm/eLrOI
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