The RBI has revised downwards forecast for retail inflation to 4.7-5.1% for April-September and 4.4% for October-March. Photo: ReutersManila: The government sees no bias in Reserve Bank of India (RBI)-led monetary policy committee (MPC) towards raising interest rates, and the decisions should be guided by hard data, economic affairs secretary Subhash Chandra Garg has said. The minutes of the last MPC meeting in April “do no reflect any bias for increase” in interest rates, he told PTI here. When the policy that kept interest rates unchanged was announced, the media said it is a dovish policy, he noted. The retail inflation in March slipped to a 5-month low of 4.27% on account of decline in food prices.

Source: Mint May 06, 2018 10:07 UTC