India cbank chief: Not much room for monetary accommodation
KOLKATA, India Dec 12 (Reuters) - Reserve Bank of India Governor Raghuram Rajan said on Thursday there was not much room to indulge in monetary policy accommodation, given inflation was high.
The central bank needed to break the back of inflation, but it would need to be careful given growth was weak, he added.
The governor was addressing bankers in the eastern city of Kolkata.
Rajan's remarks come after data earlier showed sharply higher food prices drove India's annual consumer price inflation to a higher-than-expected 11.24 percent in November from 10.17 percent in October.
(Reporting by Suvashree Dey Choudhury; Editing by Sunil Nair)
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Fresh confrontations raise tempers on ground in Crimea |
- Malaysian plane crashed off Vietnam coast: state media