Concerned over worsening political turmoil in the Middle-East and the impact of rising global crude prices on the domestic economy, the Finance Ministry has suggested the Reserve Bank to focus on steps to contain inflation.

An indication to this effect was given by Finance Minister Pranab Mukherjee to the RBI, which is slated to announce its mid-quarterly review of the monetary policy on March 17.

The central bank has for the seventh time since March 2010, raised the key policy rates to tame inflation, which of late has started declining.

However, with the surge in international crude oil prices following political turmoil in the MENA (Middle East and North Africa) region, it is unlikely that inflation would continue to fall in the months ahead.

PTI