No immediate interest rate hike, says SBI
New Delhi: The nation's largest lender State Bank of India on Tuesday said it will not hike its lending rates immediately but will wait for further signals from the Reserve Bank's forthcoming annual monetary policy. “Immediately, I do not see a hike in interest rates. We have to wait for the RBI policy on April 20,” SBI chairman OP Bhatt told reporters on the sidelines of the Indo-US financial and economic partnership meeting here. Last month, the RBI had lifted its repo and reverse repo rates (short term lending and borrowing rates in that order) by 0.25% each to 5% and 3.75%, respectively to cool off the runaway inflation, which has shot past the RBI's forecast of 8.5% by March. Wholesale price-based inflation rose to 9.89% in February from 8.56% in the previous month due to increase in prices of certain food items and fuels. -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
