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NO CHANGE IN INDIAN INFLATION OUTLOOK FOR FY-05: RBI.
MUMBAI, Aug 2 Asia Pulse - Despite inflation hovering over the 6 per cent mark, Reserve Bank of India said it will not change the inflation outlook of around 5 per cent for the fiscal 2004-05 and expressed confidence on conducting Centre's borrowing programme without difficulty.
"We are keeping a tight watch on inflation. If you look at the inflation details, some of it came because of the global price rise in oil, iron and steel and coal. But there is an evidence of commodity prices moderating", RBI Deputy Governor Rakesh Mohan told reporters Friday.
China was also trying to "cool down" its economy "so there is an optimism on inflation", he said, adding that the oil situation still had some uncertainties.
After rising for three ...
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Source: HighBeam Research, NO CHANGE IN INDIAN INFLATION OUTLOOK FOR FY-05: RBI.