Wednesday, December 7, 2011

Interest rate hike ineffective beyond a point, says govt

........ The demand for the RBI to press a pause button at its monetary review slated for December 16 on its rate hiking spree comes in the wake of India’s economic growth declining to a nine-quarter low of 6.9 per cent in the July-September period of this fiscal. Moreover, September saw a decline in the industrial growth to a two-year low of 1.9 per cent. Besides, increasing cost of credit has pulled down investment......

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