Impractical to target inflation: Subbarao

It is impractical to target inflation given less effective policy transmission,RBI governor Duvvuri Subbarao said in a speech in Hyderabad on Monday.

The Reserve Bank of India has in various statements made clear that it was not in favour of inflation targeting.

Monetary policy usually works with a lag in the economy.

The Reserve Bank of India last Thursday extended its fight against inflation,but signalled that a tightening cycle that has seen five rate hikes this year may be nearing an end.