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Skip Navigation LinksHome :: Markets/asset classes :: Credit markets :: India's interest rates seen to be near peak.

Tuesday, August 19, 2008

India's interest rates seen to be near peak.





India's interest rates seen to be near peak. According to the Business Times, State Bank of India (SBI) Chairman O P Bhatt stated recently that interest rates in India had almost peaked. In order to control inflation, the Reserve Bank of India (RBI) last month increased its key lending rate to a seven- year high of 9%. As a result, Indian commercial banks have increased their interest rates, with the SBI increasing its lending rate to 13.75% on Tuesday. In support of the assessment that interest rates are peaking, Bhatt cited the downtrend in oil and commodity prices, a good monsoon, the reduction in the demand pull from the Beijing Olympics and the global economic slowdown.







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