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Our Bureau

Mumbai, May 10

The hardening of oil prices continues to pose a risk, according to Dr Rakesh Mohan, Deputy Governor, RBI.

"Oil prices are among the risks that we had clearly mentioned and have transpired so far. There has been a degree of volatility with prices going up to $74 and falling to $69," said Dr Mohan speaking to journalists on the sidelines of a seminar.Responding to a question on whether the current liquidity situation would continue, Mr Mohan said: "We are watching the liquidity situation carefully." On RBI's response to another hike in the interest rate by the US Fed, he said that RBI would watch what Mr Ben Bernanke does.

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