RBI stands by end-March inflation forecast

The Reserve Bank of India (RBI) stands by its end-March inflation forecast of 8.5 percent, and expects current inflation to moderate by July, Governor Duvvuri Subbarao said on Thursday. "It is difficult to precisely predict the roadmap or calibration of inflation number," he told reporters in the eastern Indian city of Patna. "But taking into account the situation at the end of January and looking ahead to the evolving situation we said 8.5 pct by the end of March and we stand by that number," he added.