The outlook for the Indian economy in the coming months remains uncertain but the Reserve Bank of India (RBI) will take appropriate Subbarao action when needed, its chief said on Thursday.
"The situation way forward is quite uncertain. The RBI will take appropriate action as and when required," Subbarao told reporters after a meeting of the bank's governing board.
"The RBI will continue to closely monitor the developments in the global and domestic financial markets and will take swift and effective action as appropriate."
He also said the central bank would endeavour to minimise the stress on various sectors of the economy which have been hurt by the global economic crisis.
On Saturday, the bank aggressively cut its main rates to support slowing.
Showing posts with label domestic financial markets. Show all posts
Showing posts with label domestic financial markets. Show all posts
Thursday, December 11, 2008
Uncertainty will remain in Indian economy, says RBI chief
The outlook for the Indian economy in the coming months remains uncertain but the Reserve Bank of India (RBI) will take appropriate Subbarao action when needed, its chief said on Thursday.
"The situation way forward is quite uncertain. The RBI will take appropriate action as and when required," Subbarao told reporters after a meeting of the bank's governing board.
"The RBI will continue to closely monitor the developments in the global and domestic financial markets and will take swift and effective action as appropriate."
He also said the central bank would endeavour to minimise the stress on various sectors of the economy which have been hurt by the global economic crisis.
On Saturday, the bank aggressively cut its main rates to support slowing.
"The situation way forward is quite uncertain. The RBI will take appropriate action as and when required," Subbarao told reporters after a meeting of the bank's governing board.
"The RBI will continue to closely monitor the developments in the global and domestic financial markets and will take swift and effective action as appropriate."
He also said the central bank would endeavour to minimise the stress on various sectors of the economy which have been hurt by the global economic crisis.
On Saturday, the bank aggressively cut its main rates to support slowing.
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