Thu Dec 31, 2009
HYDERABAD, India, Dec 31 (Reuters) - The Indian central bank will review interest rates at its next policy review scheduled for Jan. 29 and not before, a deputy central bank governor said on Thursday.
"Wait for 29th. It can't be speculated. If it has to happen, it will happen on 29th. You will have to wait for that," said K.C. Chakrabarty, a deputy governor of the Reserve Bank of India, when asked whether and when the central bank would adjust rates.
India and South Korea are widely expected to be among the first Group of 20 nations to follow Australia and raise interest rates as they recover from the global slowdown.
Some economists expect inflation in India to reach 8 percent by the end of the fiscal year in March, above the RBI's comfort level.