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India's central bank hikes CRR by 50 basis pts, keeps other key rates unchanged


Published : Tue, 30 Oct 2007 07:41
By : Agencies
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MUMBAI (Thomson Financial) - The Reserve Bank of India (RBI) has hiked the cash reserve ratio (CRR) for banks by 50 basis points to 7.50 pct and left the key bank interest rates and the repo and reverse repo rates unchanged.

The Indian central bank said it retained its gross domestic product growth forecast for fiscal 2007-08 at 8.5 pct, assuming there will be no further rise in international crude prices.

RBI also said the country's inflation rate will be around 5.0 pct during the current fiscal year.

TFN.newsdesk@thomson.com

aka/man/jrr

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