New Delhi, April 30: A deputy governor of the Reserve Bank of India on Thursday said he did not see any immediate need for any policy action before a scheduled quarterly review in July.
“As of now, no,” K.C. Chakrabarty said when asked if a mid-cycle policy action was needed.
Wholesale price inflation in March touched a 17-month high of 9.9 percent, prompting the RBI to raise rates in April for the second time in as many months.
RBI Governor Duvvuri Subbarao said rising prices for food, fuel and wages have made inflation more of a generalised and demand-side problem.
Last week, the central bank raised its key interest rates and bank reserve requirements by 25 basis points each and signalled further rises as it battles to rein in a build-up in inflationary expectations.
—Agencies