RBI to focus on price stability, growth

MUMBAI, AUGUST 17 (AGENCIES)

Reserve Bank of India (RBI) Deputy Governor Rakesh Mohan said on Tuesday that price stability and growth remained key objectives of the central bank.

"As we have said in the policy statement, price stability along with growth will remain our key objective," he told reporters in answer to queries about the central bank's policies towards tackling inflationary expectations.

The country's inflation rate, based on wholesale prices, soared to a 3-½ year high of 7.61 percent at the end of July, mainly due to higher fuel and commodity prices.

Mohan was speaking to reporters on the sidelines of a debt market seminar.