Monetary action may still be warranted to anchor inflation:
Monetary action may still be warranted from the Reserve Bank of India to anchor inflation expectations in face of sustained high food inflation, Governor D. Subbarao said in a speech on Tuesday in Hyderabad.
Inflation could hit 5 per cent by the end of the year, well outside the Reserve Bank's target range of 1-3 per cent, but it has decided to remain sitting on its hands.