Duvvuri Subbarao

RBI to take note of lower inflation: Duvvuri Subbarao

Frankfurt: The Reserve Bank of India will take note of falling inflation when discussing potential interest rate cuts, the central bank's Governor Duvvuri Subbarao said on Tuesday, adding he was very happy about the falling inflation.

Asked about potential interest rate cuts in light of falling inflation, Subbarao said they would be taken into account and in future central bankers "will take note of softening inflation."

The headline wholesale inflation fell below 5 per cent in April, dropping within the central bank's comfort zone for the first time in more than three years and fuelling market hopes for more monetary easing to revive flagging economic growth.

Subbarao said earlier he was "very happy" about the fall....more    

RBI likely to cut interest rates to prod sputtering economy

Mumbai: The Reserve Bank of India (RBI) is expected to cut its policy interest rate by a quarter point on Friday for the third time this year as it looks to bolster an economy growing at a decade low and takes comfort from easing inflation. While investors are hoping to hear a less-hawkish tone from RBI Governor Duvvuri Subbarao, the RBI in its report on macroeconomic and monetary developments on...  

Low March inflation will spur rate cuts, say analysts

Mumbai: The drop in headline inflation to a 40-month low of 5.96 per cent for March has increased the possibility of a rate cut by the Reserve Bank at its May 3 annual policy, analysts and rating agencies said on Monday. India Ratings said the cooling off in both core and general inflation readings, coupled with fiscal consolidation and reform measures undertaken by Government, will help RBI Governor Duvvuri Subbarao...  

RBI expected to cut its key policy rate as growth stumbles

The Reserve Bank of India (RBI) is expected to cut its key policy rate on Tuesday for the second time in 2013 to help revive a faltering economy, taking comfort from moderating core price pressures and the government's commitment to trim the fiscal deficit. ...  

Budget should soften inflation: RBI Governor

India's recent budget should have a softening effect on inflation, Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Wednesday. "Given the circumstances, I think it's (the budget) very measured and responsible," he told students in London. ...  

RBI chief rejects high inflation as 'new normal'

The Reserve Bank of India (RBI) rejects the notion that high inflation is the "new normal," RBI Governor Duvvuri Subbarao said, noting that many of the supply-driven causes of inflation can be corrected by appropriate policies. ...  

RBI to defy rate cut despite easing inflation

Mumbai: The Reserve Bank of India is expected to keep interest rates on hold on Tuesday despite government pressure for a cut, sticking to its guidance that it will not ease monetary policy before early next year as cooling inflation is still too high for comfort. The RBI has kept its key borrowing rate at 8 per cent since April, defying calls from business and politicians to do more to...  

Inflation still too high says RBI, dashes rate cut hopes

Pune: Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Friday virtually ruled out an early rate cut, saying inflation is still "quite high" and the central bank is on a high alert. "At 7.45 per cent, inflation is certainly quite high," Subbarao told reporters on the sidelines of an event in Pune. Subbarao said the RBI was concerned about inflation as well as the slowdown in the economic growth....  

Miffed Chidambaram widens rift with RBI

Finance Minister P Chidambaram usually does not talk to the throng of news-hungry reporters and cameramen gathered outside the gates of the red sandstone colonial building which houses the finance ministry. A no comment or 'I don't have anything to say' suffices on an ordinary day. Tuesday, however, was not an ordinary day. Some two hours after the Reserve Bank of India announced it would leave the repo rate unchanged,...  

RBI chief sees scope to cut interest rates in 2012

Mumbai: The Reserve Bank of India has scope to cut interest rates during this calendar year, Governor Duvvuri Subbarao said in a news conference after the central bank's policy review, though he declined to elaborate further. Subbarao said fiscal measures from the government would not necessarily prompt the central bank to take monetary policy action. Earlier on Tuesday, the RBI left key policy rates unchanged, citing persistent inflationary pressures. ...  

'Domestic, global factors behind recent Rupee fall'

Mumbai: The sharp depreciation of the rupee over the last few months was driven by a combination of global as well as domestic factors and the future exchange rate movement will depend on fixing these issues, Reserve Bank Governor Duvvuri Subbarao said on Tuesday. While the high current account deficit, higher trade deficit driven by rising imports, led by gold and oil, are the domestic factors, the ongoing Eurozone crisis...  

RBI chief says government must cut spending

Mumbai: The Indian government must reduce spending and not just raise taxes for fiscal consolidation, the Reserve Bank of India's Governor Duvvuri Subbarao said on Tuesday, a day after the central bank kept interest rates steady. He said raising taxes was not the same as reducing the fiscal deficit and added it was important to look at the quality of fiscal consolidation. The government failed to contain its fiscal deficit...  

RBI may cut repo rate by 25 bps, CRR by 1 pc

Mumbai: Reserve Bank of India Governor Duvvuri Subbarao is expected to go slow on his over two-year-old anti-inflationary posture and go with the common mood by unveiling a softer interest rate regime on Monday, as more and more dark clouds gather over the economy, though the price index still remains above RBI's comfort zone. Following the shocking latest GDP numbers, which showed that economic expansion had hit a nine-year low...  

RBI chief calls economic view 'disturbing'

New Delhi: India's deficits and short-term debt levels are "disturbing," but it is not facing a repeat of a 1991 balance of payments crisis, Reserve Bank of India chief Duvvuri Subbarao said on Saturday. Dependent on imported oil which it then subsidises, India is exposed to external shocks such as high crude prices and has seen its fiscal and current deficits blow out in recent months, triggering some economists to...  

Difficult to predict timing of rate cuts: RBI

Mumbai: Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday it would be difficult to predict the timing, pace and magnitude of any interest rate cuts. The RBI will be very circumspect about how rate cuts should roll out when they start, he said, adding the central bank would also have to look at the fiscal deficit before cutting rates. The bank will look at how Tuesday's cut in...  

RBI likely to ease monetary policy: Subbarao

Mumbai: The Reserve Bank of India is likely to begin easing monetary policy to address concerns about economic growth, Governor Duvvuri Subbarao said in a BBC interview, reiterating comments made by the RBI when it kept rates unchanged on December 16. "From here on, we could expect reversal of monetary tightening. But it's difficult to say when that will take place and in what shape it will roll out," Subbarao...  

Subbarao gets two year extension as RBI chief

New Delhi: Prime Minister Manmohan Singh has approved a two-year extension for the Reserve Bank of India chief Duvvuri Subbarao, a move seen by analysts as favouring continuity at a time of global economic uncertainty. The Reserve Bank of India (RBI) governor was appointed for a three-year term in September 2008 and was immediately tasked with the mandate of protecting Asia's third-largest economy from the aftermath of the global financial...  

FY10 GDP growth won't fall below 6 pc: RBI

RBI expects the 6 per cent GDP growth phase to be over in FY10. ...  

Global recession could hamper India's growth: RBI

RBI governor also says weak rupee is contributing to inflation. ...  

Manmohan asks RBI Guv to cut short his US trip

RBI Governor is in US for the World Bank and IMF meetings. ...