Monday, November 29, 1999

Mukherjee, RBI governor to meet July 23

News posted by www.newsinfoline.com

Finance Minister Pranab Mukherjee said on Tuesday he and Reserve Bank Governor Duvvuri Subbarao would meet on July 23 as usual ahead of the central bank's monetary policy review on July 27.The Reserve Bank of India (RBI) is widely expected to raise rates by another 25 basis points at the review, after it surprised markets late on Friday by raising its policy rate by 25 basis points.Friday's rate hike was the third this year as the RBI struggles to contain inflation, which has accelerated into double digits.(Reporting by Manoj Kumar; editing by John Stonestreet)
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