Interest rates almost at peak: SBI

Country's largest lender State Bank of India said interest rates have almost peaked and is unlikely to change unless RBI took any further action.

Country's largest lender State Bank of India on Wednesday said interest rates have almost peaked and is unlikely to change unless RBI took any further action.

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"It (interest rate) has peaked or nearly peaked... Unless there is any further course of action" by RBI, SBI's Chairman O P Bhatt told reporters in New Delhi.

Oil prices are softening, monsoons are good, commodity prices, except steel, seem to have peaked and demand pull because of Olympics also seems to be over, he said.

Global economy is slowing down and there seems to be enough reasons that interest rates have peaked or have nearly peaked.