RBI will act to curb double-digit inflation: Reddy

Y.V. Reddy, the governor of the Reserve Bank of India, indicated on Monday that the central bank would move to counter inflation, now at a 13-year high.

"We are confident that with a well-managed smooth adjustment of this episode, the inflation would be brought in alignment with our aim as expressed in the policy from time to time," Reddy said. "In the process of difficult adjustment, the Reserve Bank will play its part in moderating and managing aggregate demand so that pressures on prices a

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