Finance, Forex and Investments

RBI Governor Subbarao attends an annual monetary policy review

Summary: <p>Reserve Bank of India RBI Governor Duvvuri Subbarao attends an annual monetary policy review meeting in Mumbai May 3 2011 India central bank raised interest rates by a sharper than expected 50 basis points on Tuesday and signalled it would battle stubbornly high inflation even at the expense of the government economic growth ambitions The rate rise was its ninth since March 2010 and exceeded expectations for a 25 basis point rise although the case for stronger action had been building since figures showed March inflation reached nearly 9 percent above the central bank perceived comfort zone

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