RBI governor warns of 'stubborn' inflation

Reserve Bank of India governor has said "stubborn" inflation remains a major obstacle to growth in India, dimming expectations of an interest rate cut when policymakers meet next week.


RBI slashed the main interest rate in January for the first time in nine months after a fall in inflation and calls from the government and business leaders for lower borrowing costs.

RBI governor Duvvuri Subbarao reiterated his concern late Wednesday about persistently high inflation, despite the wholesale price index falling to a more than three-year low of 6.62% in January. [Via]

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