India cbank chief: gap between MSF and repo rate to be narrowed to 100 bps over time
MUMBAI, Sept 20
MUMBAI, Sept 20 (Reuters) - The Reserve Bank of India chief said the difference between the marginal standing facility (MSF) and the key repo rate will be brought down to 100 basis points over time.
The repo rate should be consistent with inflationary conditions, Governor Raghuram Rajan told a post-policy press conference.
Rajan surprised markets in his maiden policy review earlier on Friday by raising interest rates to ward off rising inflation while scaling back some emergency measures put in place to support the ailing rupee.
For more on the central bank decision, see
(Reporting by Archana Narayanan; Editing by Kim Coghill)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Insight: For Chinese farmers, a rare welcome in Russia's Far East
- Ice storms, snowfall, rain hinders holiday travel across U.S.