Interest rates not seen rising in short term: Montek Singh Ahluwalia
The Reserve Bank has raised benchmark rates twice since March by a total of 50 basis points and has flagged more increases to control headline inflation which is close to 10%.
Interest rates in India are unlikely to rise in the short term despite inflation being "still too high for comfort," Montek Singh Ahluwalia, deputy chairman of the Planning Commission, said on Wednesday.The Reserve Bank has raised benchmark rates twice since March by a total of 50 basis points and has flagged more increases to control headline inflation which is close to 10%.