New Delhi, March 22: India’s wholesale price index-based inflation may fall on a likely easing of food and oil prices, a Reserve Bank of India (RBI) deputy governor said on Monday.
The bank was right on the curve regarding Friday’s unexpected rate hike action and it could act any time, K.C. Chakrabarty told reporters on the sidelines of an event in Bangalore.
The RBI on Friday raised interest rates from record-low levels for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery.
The central bank is scheduled to review policy on April 20, and is expected to raise interest rates further.
—–Agencies