RBI finally raises key rates to fight inflation
Challenged by unrelenting inflationary pressures, Reserve Bank on Tuesday announced stringent measures of hiking mandatory cash reserve of the banks and its short-term lending rate to them to suck up an estimated Rs 20,000 crore -- a move that could make loans dearer for housing, car and personal expenses as also to the industry.
Announcement of hiking cash reserve ratio by 50 basis points and the short-term lending (repo) rate by a similar margin comes close on the heels of RBI Governor Y V Reddy discussing with Prime Minister Manmohan Singh and Finance Minister P Chidambaram the prevailing inflation scenario. '
source:timesofIndia
Re: RBI finally raises key rates to fight inflation
They raises rates to fight inflation but what about ordinary people.
Re: RBI finally raises key rates to fight inflation
For every thing ordinary people should suffer
Re: RBI finally raises key rates to fight inflation
Re: RBI finally raises key rates to fight inflation
I don't know how to reply ecsept to say before the US government stressed using Ethanol as a substititue for regular gasoline, i was paying $1.59 for a gallon of milk. now I pay $2.79 per gallon and the price went down from $3.69.
This is what happens when the government meddles to achieve an aim?
