RBI says 4% inflation target not in abeyance; future rate action tied to price persistence

Mumbai: The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday said its 4 per cent medium-term inflation target is sacrosanct and has not been put in abeyance.

Malhotra, who upped the central bank's FY27 consumer inflation estimate by 0.5 per cent to 5.1 per cent, indicated that any future monetary policy action would depend on whether price rise becomes broad-based and persistent.