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Thursday, February 18, 2010

RBI stands by end-March inflation forecast

The Reserve Bank of India (RBI) stands by its end-March inflation forecast of 8.5 percent, and expects current inflation to moderate by July, Governor Duvvuri Subbarao said on Thursday.

"It is difficult to precisely predict the roadmap or calibration of inflation number," he told reporters in the eastern Indian city of Patna.

"But taking into account the situation at the end of January and looking ahead to the evolving situation we said 8.5 pct by the end of March and we stand by that number," he added.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
18:00 Fed's Waller speech 2
18:00 New Housing Price Index (MoM) 1 -0.2% -0.2% -0.4%
18:00 Raw Material Price Index 1 -0.4% -0.8% -3.3% Revised from -3.0%
18:00 Industrial Product Price (MoM) 1 -0.5% 0.0% -0.8%
n/a Fed Monetary Policy Report 2
22:30 Baker Hughes US Oil Rig Count 1 439
Sunday, Jun 22
22:45 Fed's Daly speech 2
Monday, Jun 23
04:30 S&P Global Services PMI 2 50.6
04:30 S&P Global Manufacturing PMI 2 51
04:30 S&P Global Composite PMI 2 50.5
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