India central bank chief Patel: 2018/19 inflation projected at around 4.5pc

The Reserve Bank of India on Wednesday kept its main repo rate at 6.00 percent. Its statement projected inflation to reach 5.1 to 5.6 percent in April to September and then 4.5 to 4.6 percent in October to March.

Patel said inflation would be around 4.5 percent for the overall year starting in April.

"In some quarters, some months it may be a little higher. Keeping all that into account we felt that at this stage, without more data coming in it was not necessary to change repo rate or the stance," he added.