The Hindu Business Line : Wednesday, October 27, 2004

EDITORIAL
A bleak script
PUTTING BEHIND THE salad predictions of May, the Reserve Bank of India on Tuesday came up with a bleak script for the Indian economy. The RBI Governor, Dr Yaga Venugopal Reddy, has marked down the pace of GDP growth for 2004-05 to 6-6.5 per cent ... More

CREDIT POLICY
Mid-Term Review of Monetary Policy — A warning of tough times ahead
The RBI makes a masterly analysis of the macro-economic developments over the last half-year. The Credit Policy is a measured response to a difficult policy challenge offered by inflationary trends, it succeeds in alerting the finance community and c orporates to the possibility of a rise in interest rates without actually implementing an increase, says S. Venkitaramanan. More

RBI at its transparent best
The RBI continues the tradition of openness and transparency in conveying facts and assessment of what lies ahead. The measures announced on the side of monetary and credit policies and prudential regulation are welcome. More

Targeting inflation
THE RBI Governor, Mr Y. V. Reddy, has obviously targeted inflation in the Mid-Term Review. The central bank has raised its point-to-point inflation projection to 6.5 per cent from 5 per cent. Similarly, the GDP growth projection has been ... More

Maintaining momentum
THE Mid-Term Review of the Monetary Policy for 2004-05 was expected to be a balancing act by the Reserve Bank of India between the need to contain inflationary pressures and the requirement to ensure the continued momentum of economic growth. In ... More

In sync with the times
THE Mid-Term Review of the Annual Policy Statement is in line with the current developments happening in the economy. Looking at the pace at which the global situation is changing, we may have the need of such review more frequently, perhaps ... More

A review of hard times
THE Mid-Term Review of Credit Policy comes amid hard times with soaring metals and minerals prices, as reflected in the CRB Futures Price Index trading at a 23-year high, and crude hovering around $55 per barrel. All ... More

Bracing the economy
THE Credit Policy announced today is significant for the signals it sends out. Inflation and fiscal discipline are highlighted as incipient problems, and the policy braces the economy for these. The review , therefore, is timely and appropriate, ... More

Giving the policy a gilt edge
THE RBI Mid-Term Review of the Annual Policy 2004-05 was eagerly awaited this time around, though such a policy announcement had almost become a non-event as the central bank had preferred to deal with the developments ... More

Upping ante on interest rates
THE tension in the money market over the last few weeks on a "rate hike" was put to rest by the Reserve Bank of India with a repo rate hike of 25 bps while leaving the Bank Rate and the CRR untouched. The market yields yo-yo-ed in the last few ... More

In pursuit of price stability
THE Mid-Term Review of Annual Policy Statement of the Reserve Bank of India (RBI) for the year 2004-05 reflects the central monetary authority's renewed thrust on economic growth without compromising the goal of price stability. To keep the ... More