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RBI may up inflation forecast in next MPC meeting; rate hike on cards: Sources

RBI may up inflation forecast in next MPC meeting; rate hike on cards: Sources

The Reserve Bank is likely to raise inflation projections in the Monetary Policy Committee (MPC) meeting next month and would also consider a rate hike to tame inflation which is above its comfort level, sources said.

The MPC, headed by the RBI Governor, is scheduled to meet between June 6 and June 8. It has been mandated to keep retail inflation in the range of 2-6 per cent.
Sources said the MPC would review the inflation scenario in the next meeting. The MPC had not changed inflation projections in an off-cycle meeting earlier this month.

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