RBI ready to intervene to ensure price stability

RBI ready to intervene to ensure price stability

BS Reporter & Agencies / New Delhi November 22, 2007

Rakesh Mohan

The Reserve Bank of India will not hesitate to take further monetary measures to ensure stability in the economy, RBI Deputy Governor Rakesh Mohan said today.

"RBI's main objective remains price stability, financial stability and maintenance of growth. We are ready to use all instruments - MSS, liquidity adjustment facility and cash reserve ratio - depending on the situation," he said at a business conference today.

The central bank hiked the Cash Reserve Ratio-the percentage of depositors