Subbarao sees scope to cut interest rates in 2012

[epicresearch]

The Reserve Bank of India has scope to cut interest rates during this calendar year, Governor Duvvuri Subbarao said in a news conference after the central bank's policy review , though he declined to elaborate further.

Subbarao said fiscal measures from the government would not necessarily prompt the central bank to take monetary policy action.

Earlier today, the RBI left key policy rates unchanged, citing persistent inflationary pressures.