CB policies on interest rates, forex on Tuesday
View(s):The Central Bank (CB) will present its policy plan for 2013 on Wednesday January 2 amidst flash floods this month that have affected crops dashing hopes of a good first quarter 2013 growth.
The CB’s “Road Map : Monetary and Financial Sector Policies for 2013 and Beyond” will be presented by Governor Ajith Nivard Cabraal to senior government officials, top private sector CEOs and the media, a common practice over the past few years.
The policy statements set the agenda for CB direction in interest rates, foreign exchange management and other economic fundamentals. Inflation and FDIs targets for 2013 would also be announced.
Last year the CB announced – at the same briefing – a target of 8 per cent growth for 2012 but mid-year revised it to 7 percent while other economists now say it would be lower than that. A month later (in February 2012), the CB announced a withdrawal of foreign exchange intervention, freeing the markets and resulting in the US dollar rising sharply against the rupee.
Follow @timesonlinelk
comments powered by Disqus