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RBI wary of upside risks for inflation despite fall in price pressures

Inflation risks included a proposed increase in the minimum purchase price of foodgrains, fiscal slippage worries and volatility in global crude oil prices

Reuters  |  MUMBAI 

The Reserve Bank of India is still wary of upside risks for inflation despite a sharp fall in price pressures in February, prompting the monetary policy committee to keep rates on hold while retaining its "neutral" stance, Governor Urjit Patel said on Thursday. "The inflation print for February did turn out to be softer than our projection," Patel told reporters after announcing the monetary policy statement. "However, MPC looks ahead. We noted there are several uncertainties around the baseline inflation path which is why we kept the stance neutral and ...

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First Published: Thu, April 05 2018. 16:08 IST