The bank's next monetary policy review is scheduled for April 13.
"In the current circumstances, lowering policy rates will only aggravate inflationary impulses without necessarily stimulating growth," the bank's governor, Duvvuri Subbarao, wrote in the monetary policy review.
Ahead of the Reserve Bank of India's mid-quarter monetary policy review, the difference in the outlook of bond traders and economists is stark.
In a midterm monetary policy review, Yaga Venugopal Reddy, governor of the Reserve Bank, announced that the bank's repurchase rate, or the cost for other banks to borrow funds, would rise by a quarter percentage point, to 7.25percentt.
Doug Frantz (NYT) Correction: July 7 , 2001 Saturday A report in the World Briefing column on Tuesday about the postponement of an International Monetary Fund review of economic progress in Turkey misstated the size of the next installment of I.M.F.
The Bombay Stock Exchange's Sensex average rebounded slightly on Friday, to close up 0.31 percent, after falling sharply during the week ahead of the bank's monetary policy review.
In its quarterly monetary policy review, the central bank, the Reserve Bank of India, raised its repurchase rate, the short-term lending rate banks rely on for their underlying financing, to 7.75 percent from 7.5 percent.
KABUL, Afghanistan — An International Monetary Fund review of the Afghan government's progress in determining what went wrong at the nation's largest bank and the steps necessary to fix it has concluded that so little has been done so far that there is no possibility of renewing the fund's program here, diplomats in Kabul said.
Two weeks ago, and 60 months later than originally scheduled, Ecuador permitted an International Monetary Fund review of the state of the economy and government finances, without which a bond sale would be unthinkable.It has also bought back bonds still held by "holdout" creditors at levels substantially higher than the 65% discount it obtained in a 2009 buyback of its defaulted debt.
On Friday the central bank lifted the key interest rate by 25 basis points to 7.75% at its monthly monetary policy review.
The government's effort did not deter the central bank from raising the key interest rate though by 25 basis points to 7.75% at its monthly monetary policy review.
