Indian finance minister sees no switch to monetary tightening

07/21/2013 | Wall Street Journal (India)

India's central bank has not essentially altered course toward monetary tightening even though it raised two interest rates last week after a sustained slide in the rupee, said Finance Minister P. Chidambaram. "What I think the central bank did a few days ago is not to be understood as affecting the policy rate one way or another. That decision will be taken separately," Chidambaram said.

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