Emerging economies aiding global growth: Reddy

 Reserve Bank Governor Y V Reddy today said there was no need to review the monetary policy's estimate on inflation for the current financial year.

"(There is) no need to revisit monetary policy stance on inflation," Reddy said here.

He was responding to queries on whether the central bank would revise its stand on inflation in view of the latest government estimates released today, which show that inflation has surged to a four-month high of 5.41% for the week ended October 21.

RBI, in its busy season monetary policy statement on Tuesday, had said it would stick to the earlier stance of 5-5.5% inflation for 2006-07.