RBI aims at containing spiralling inflation rate - Economic Times

In order to reign in the spiralling inflation rate, the Reserve Bank of India (RBI) raised its key short-term borrowing and lending rates by 25 basis points to 3.5 and five per cent respectively.

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The moves are directed at taming inflation, which rose to 9.89 per cent in February from 8.56 per cent in January. The RBI had projected the inflation rate to be 8.5 per cent by this fiscal end.

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According to the RBI, with rising demand-side pressures, there is a risk that the Wholesale Price Index (WPI) based inflation rate may cross double digits in March 2010. The target for inflation will be pegged for the next fiscal at the April 20 policy.

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Full Story: RBI aims at containing spiralling inflation rate - Economic Times