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October 29, 2007 18:21 IST
A day ahead of its monetary policy review, the Reserve Bank said on Monday pre-emptive monetary and fiscal measures have helped in containing inflation, indicating that there may not be any hike in interest rates.
In its macroeconomic review, it said "pre-emptive monetary measures since mid-2004 accompanied by fiscal and supply side measures have helped in containing inflation."
RBI's review is in line with the observation of bankers and economist who felt that with moderating inflation the apex bank should take a call on lowering interest rates, which have peaked and are now impeding high growth momentum.
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