RBI chief says WPI has to be brought down to 5 pct target
MUMBAI (Reuters) - The Reserve Bank of India (RBI) chief said the wholesale price inflation has to be brought down to a comfort level of 5 percent, but avoided setting a goal post for the consumer price inflation.
"We also have to bring that (WPI) to the 5 percent norm that we have enunciated in the past," Raghuram Rajan said at a media conference on Tuesday.
The central bank raised interest rates for the second time in as many months on Tuesday, warning that inflation is likely to remain elevated despite sluggish growth, and rolled back an emergency measure put in place in July to support the rupee.
For more on the central bank decision, see IN-CEN-INT-M
(Reporting by Suvashree Dey Choudhury; Editing by Gopakumar Warrier)
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