OPEC crude price jumps to new record high

Organization of the Petroleum Exporting CountriesVienna - The pr

RBI to release annual monetary and credit policy today

Mumbai, Reserve Bank of IndiaApr 29: Reserve Bank of India (RBI) will announce the annual the monetary and credit policy for the year 2008-09 today.

Rising inflation could impact the policy in terms of further rate hikes.

The RBI’s key policy rates were raised nine times since October 2004, while the Cash Reserve Ratio (CRR), the mandatory amounts that the banks have to keep with RBI, was raised five times since December 2006.

OPEC crude hovers just below 110 dollars

Vienna - Organization of the Petroleum Exporting CountriesThe price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) continued its climb and was hovering just below the 110-dollar mark, OPEC said on Wednesday.

One barrel of crude oil from OPEC's reference basket stood at yet another record high of 109.92 dollars on Tuesday, up 99 cents from the previous day.

Hopes for OPEC to increase production in the near future were dashed as OPEC Secretary General Abdalla Salem el-Badri ruled out an extraordinary meeting until the next regular meeting, scheduled for September.

New OPEC record high at 106.65 dollars

Organization of the Petroleum Exporting CountriesVienna - The pri

OPEC crude price remains close to all-time high

Vienna - TOrganization of the Petroleum Exporting Countrieshe pr

Price Pressures Already Included In Monetary Plan, Says Reddy

After the inflation rate moved up to a nine-month high to 5.11%, RBI YV Reddygovernor YV Reddy stated that India’s monetary plan has already included the rising food and fuel prices.

According to the data, the annual wholesale price inflation rate touched 5.11% in the week ended March 1, and the prices have gone up by 5.01% during the last week.

It is projected that inflation will go up in the coming weeks. Mr. Reddy had recently expressed his worry over increasing food and energy prices.

The central bank wishes to keep inflation around 5% during the 2007/08 fiscal year ending March 31.