MUMBAI, March 3 (Reuters) - Interest rates in India have peaked or are near a peak, O.P. Bhatt, chairman of State Bank of India, the country's largest lender said on Thursday.
The central bank has raised rates seven times in the past 12 months but headline inflation has remained high partly due to high food prices caused by a sudden shortage of fruits and vegetables.
The Reserve Bank of India is widely expected to raise rates by 25 basis points at its policy review on March 17.
(Reporting by Anurag Kotoky; Editing by Aradhana Aravindan) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: SBI/ (anurag.kotoky@thomsonreuters.com; +91 11 4178 1024; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The central bank has raised rates seven times in the past 12 months but headline inflation has remained high partly due to high food prices caused by a sudden shortage of fruits and vegetables.
The Reserve Bank of India is widely expected to raise rates by 25 basis points at its policy review on March 17.
(Reporting by Anurag Kotoky; Editing by Aradhana Aravindan) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: SBI/ (anurag.kotoky@thomsonreuters.com; +91 11 4178 1024; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.