PM to meet RBI Governor to discuss monetary measures to curb inflation

New Delhi, Jan 12 (ANI): The Prime Minister, Dr. Manmohan Singh will meet Reserve Bank of India (RBI) Governor D Subbarao over the possibility of further monetary steps to check price rise here today.

Dr Singh's meeting with Subbarao comes ahead of RBI's quarterly review of monetary policy on January 25.

RBI has already raised the short-term key borrowing and lending rates six times in 2010 in a bid to raise cost of funds and check inflationary expectations.

On Tuesday, Dr. Singh held a high level meeting on spiralling food prices and to conduct a review on food inflation, which has gone past 18 per cent.

Senior ministers, including Finance Minister Pranab Mukherjee, Food and Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman Montek Singh Ahluwalia attended the meeting.

Food inflation rose to 18.32 per cent for the week ended December 25, due to rise in prices of vegetables like onion, milk and meat. (ANI)