The projections made by the Reserve Bank of India to rein in inflation to 6 % by end-March 2012, look to many a far dream. While the Central Bank is tracking the inflation rate, the economy is expected to cool in the near future.

Fueled by hike in petrol prices and manufactured goods, India’s wholesale price inflation notched up in June to an annual 9.44% from 9.06% in May. What could be the possible steps the Central Bank would take to tame the inflation, was pretty much clear in a poll conducted by The Reuters.

Quizzing 23 experts on the same, 11 participants claimed repo rate to shoot by a total of 50 basis points (bps) by the end of the year, thereby touching the mark of 8%, while other nine expected the RBI to adopt a wait and watch theory towards its rate hike cycle after raising the repo rate to 7.75 % in July. A meager 4 were of the opinion that the RBI will take a break in September and rates will be raised by December.

It’s being believed that inflation would stabilize in couple of months though economy may slow down a bit. Since March 2010, the RBI has raised rates 10 times to combat the global pressures.