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Friday, January 29, 2010

Finmin adviser:inflation won't go out of contro

India's rising inflation will not go out of control, the finance ministry's chief economic adviser Kaushik Basu said on Friday.

India's central bank left short-term interest rates unchanged on Friday, as expected, but surprised markets with a higher-than-forecast 75-basis point rise in banks' cash reserve requirements and warned of mounting inflation.

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