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Thursday, April 15, 2010

Mukherjee: Inflationary pressures to stay till June

Inflationary pressures will stay till June, Finance Minister Pranab Mukherjee told reporters on Thursday.

India's wholesale price inflation for March surged to 9.90 percent on the back of high food and fuel prices and headline inflation is now spilling over to the manufacturing sector.

A rate hike by the Reserve Bank of India in its April 20 policy review is a near certainty and the markets have priced in a 25 basis points hike in the policy.

A Reuters poll suggests that analysts expect a 100 basis points hike in key rates from now to end December.

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