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Our Bureau

New Delhi , Nov. 3

The Reserve Bank of India Governor, Dr Y.V. Reddy, on Friday said that there was no need to "revisit" the existing stance (monetary policy stance) on inflation in the light of the latest inflation data released here on Friday.

The wholesale-price index-based inflation surged to a four-month high of 5.41 per cent for the week ended October 21.

"The monetary policy (mid-term review released few days back) says it all and covers everything about inflation. There is no need to revisit the monetary policy analysis of stance in light of the data. The data (released today) is nothing different from the basic parameters that are available", Dr Reddy told reporters here today.

He was responding to question on whether the RBI would review stance on inflation in the wake of latest data.

In the mid-term review of annual policy statement for the year 2006-07, Dr Reddy noted that inflation conditions so far have been as per expectations. He also observed that containing the year-on-year inflation rate for 2006-07 in the range of 5-5.5 per cent assumes policy priority in terms of watchful monitoring and appropriate policy responses.

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