RBI inflation target News
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The RBI kept the key policy repo rate unchanged at 6.5 per cent for a ninth consecutive meeting on Thursday as it continues to maintain a balance between accelerating economic growth and keeping inflation under control.
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According to the Japanese financial services major, a moderation in WPI inflation in the coming months is likely owing to falling vegetable prices and favourable base effects.
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The government data released on Monday showed that inflation in food articles tapered to 2.04 percent in September, as against 5.75 percent in August on an yearly basis.
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RBI expects retail inflation to fall to 2-3.5 percent in the first half of current fiscal and move up to 4.5 percent in the second half saying that rush for farm loan waivers may have inflationary spillovers.
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Under Governor Urjit Patel, the Reserve Bank of India (RBI) will target inflation of 4 percent, three officials familiar with its thinking said, adopting a narrower reading of its mandate than markets in a bid to stamp out rampant price rises of the past.
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India is likely to meet the central bank`s inflation target of 6 percent by January 2016, while economic growth is expected to gradually pick up, Reserve Bank of India Deputy Governor S.S. Mundra said on Thursday.
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