Mumbai (Maharashtra), Nov. 24 -- : RBI Deputy Governor Michael Debabrata Patra on Thursday said monetary policy is by its nature a technical area of economic policy-making and it has to be forward-looking because of the lags with which policy rates change get transmitted across the markets and eventually get reflected in lending rates, mortgage rates and yields.

During the 9th SBI Banking and Economics Conclave in Mumbai on Thursday, he said monetary policy can only hope to address future inflation, not today's inflation.

Reserve Bank of India's Deputy Governor also said that next week, deliberations would start for the next policy review to be announced in the first week of December and will have to depend on inflation data for October a...