India cbank chief says had decided to keep rates on hold before inflation data

MUMBAI Mon Dec 23, 2013 4:47am EST

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MUMBAI Dec 23 (Reuters) - Reserve Bank of India chief Raghuram Rajan said the central bank had decided to keep rates on hold even before the high consumer price and retail inflation data for November were released.

Rajan was speaking to ET NOW television channel in an interview.

Earlier this month, the RBI surprised investors by keeping interest rates on hold despite data showing consumer prices in November posted their biggest annual rise on record -- 11.24 percent -- while wholesale inflation hit a 14-month high. (Reporting by Mumbai Treasury Team; Editing by Prateek Chatterjee)

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