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RBI chief says core inflation lower than expectation

business Updated: Apr 18, 2012 15:39 IST

Reuters
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RBI-Governor-Duvvuri-Subbarao-smiles-during-a-meeting-with-bankers-at-the-head-office-in-Mumbai-AP-Photo-Rafiq-Maqbool

India's core inflation of 4.7% in March was below the central bank's expectations, the Reserve Bank Of India's governor Duvvuri Subbarao said on Wednesday.

The central bank cut rates on Tuesday by an unexpectedly sharp 50 basis points to boost the sagging economy, but warned there was limited scope for more cuts.

The governor was speaking in a conference call with analysts a day after its policy statement.