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RBI Rate Cut Not Seen On 18 Dec: Rangarajan

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The prime minister's economic advisor C Rangarajan said he doesn't expect the RBI to cut interest rates at its next policy meeting on 18 December.
 
Asia's third largest economy is headed for the weakest full-year growth in a decade, at about 6 per cent, far below the near double-digit pace before the global economic downturn.
 
But despite the slowdown, the Reserve Bank of India has not lowered interest rates since April because inflation has remained near 7 per cent, exacerbated by a weak rupee that has added to the cost of fuel imports. 
 
(Reuters)