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Monetary policy to now target inflation, to be 6% by Jan 2016

Published On : 02 Mar 2015


New Delhi, Mar 2 (PTI) The Finance Ministry and the Reserve Bank have agreed to inflation rate targeting under which the apex bank will aim to lower retail inflation to 6 per cent by January 2016 and further to around 4 per cent by March next year.

The monetary policy framework agreement as signed on February 20 is to "primarily maintain price stability while keeping in mind the objective of growth".







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