Inflation for 2018-19 projected at around 4.5%, says Urjit Patel

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Mumbai: The Reserve Bank of Indiaโ€™s projections indicate inflation for 2018-19 to be at around 4.5%, Governor Urjit Patel said on February 7, adding that meant there was no need to change the monetary policy stance based on the existing data.
The central bank on February 7 kept its main repo rate at 6.00%. Its statement projected inflation to reach 5.1-5.6% in April to September ,and then 4.5-4.6% in October to March.
Patel said inflation would be around 4.5% for the overall year starting in April.
โ€œIn some quarters, some months it may be a little higher. Keeping all that into account we felt that at this stage, without more data coming in it was not necessary to change repo rate or the stance,โ€ he added.

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