The Reserve Bank has little room for lowering interest rates further as it still sees inflationary pressure in the medium to long term, Deputy Governor Subir Gokarn said today. "We started that process (reducing interest rates) in April. But if you look at our inflation projections in relation to what we consider as long-term or medium objective, there are inflation pressures. That in a sense, limits the room that we have to reduce rates," he told reporters on the sidelines of a Ficci meeting...........
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