The Reserve Bank of India is monitoring the economic situation and will take action at the right time, its governor, Duvvuri Subbarao, said on Tuesday.
Subbarao, who met Finance Minister P Chidambaram and senior finance ministry officials, told reporters: “We are constantly monitoring the situation. We will take appropriate action at the appropriate time.” He did not elaborate.
Asked about the possibility of a cut in key rates, Subbarao said: “Nothing to say on policy”.
