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Saturday, June 14, 2008

SBI in no hurry to raise rates

State Bank of India Chairman OP Bhatt on Friday said that the bank is not in a hurry to raise the prime lending rates, in the wake of the Reserve Bank of India increasing the repo rates.

Speaking exclusively , Bhatt said that the central bank is likely to maintain its hawkish stance on interest rates to cool prices.

Bhatt said that the bank has a comfortable liquidity position and the recent rise in deposit rates was meant to help maintain liquidity.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 24
01:00 CFTC Oil NC Net Positions 1 231.0K 191.9K
01:00 CFTC Gold NC Net Positions 1 $200.6K $187.5K
01:00 CFTC GBP NC Net Positions 1 £42.9K £51.6K
01:00 CFTC AUD NC Net Positions 1 $-69.4K $-69.9K
08:30 Credit Card Spending (YoY) 1 2.2% 0.5%
15:00 BoE's Greene speech 2
18:00 Chicago Fed National Activity Index 1 -0.25
18:00 Current Account 1 $-440.0B $-303.9B
18:00 Consumer Price Index - Core (MoM) 1 0.4%
18:00 Consumer Price Index (MoM) 2 0.5% -0.1%
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