Too early to say if more needed, says Subbarao

Reserve Bank of India Governor Duvvuri Subbarao said on Thursday it was too early to say whether more measures were needed to staunch the effects of the global financial crisis on India’s markets.

Reserve Bank of India Governor Duvvuri Subbarao said on Thursday it was too early to say whether more measures were needed to staunch the effects of the global financial crisis on India’s markets.

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“It’s too early for me to say,” the governor told reporters when asked whether he was contemplating further steps to ease liquidity conditions in the financial system.

“As I said several times before, we are monitoring the situation on a continuous basis. ... we will continue to monitor the situation and as of now everything is under control,” Subbarao said after a central bank board meeting in Bardez in Goa.