India's Reddy seeks lower inflation

Reserve Bank of India governor Y.V. Reddy says curbing inflation while managing the transition to a higher-growth path was the central bank's "overarching policy challenge."

Speaking on 28 May at a symposium in Japan on India's economy , Reddy said the central bank's policy is to contain inflation close to 5% in 2007-08 and in the range of 4-4.5% over the medium-term with a view to maintaining self-accelerating growth.

Reddy said the stability of the political system has contributed to macroeco

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