RBI to review inflation, GDP outlook on July 27: Dy governor

CHENNAI: Reserve Bank deputy governor K C Chakraborty said here on Thursday that the apex bank will offer its assessment of inflationary trends and economic growth forecast in the forthcoming monetary policy review.

"On July 27, the Governor's policy will say what is the assessment of the Reserve Bank (on inflationary trends and economic growth forecast). Wait for sometime," Chakraborty told reporters here when asked for his comments on the higher GDP forecast by the International Monetary Fund.

The International Monetary Fund today upped its growth projection for the domestic economy to 9.5 percent this year from its April forecast of 8.8 percent, stating that favourable financial conditions and robust corporate profits will accelerate economic expansion.

Chakraborty and another deputy governor Usha Thorat were in the city to attend the RBI board meeting, which was chaired by Governor D Subbarao.