Mumbai: The Reserve Bank of India is likely to take some more monetary measures to contain aggregate demand and to counter inflation, further tightening liquidity, governor Y V Reddy told a parliamentary panel.

There should be some curbs on money supply as there is no likelihood of inflation coming to single digit in the next six months, Reddy told members of the Parliamentary Standing Committee.

There will be no easing of inflation at least in the next six months and it may go over 12 per cent, he pointed out. For the week ended June 28, inflation rose to 11.89 per cent.

In June, RBI raised short-term lending rates for banks - repo- by 0.75 per cent in two installments and  also increased the mandatory cash reserve ratio of banks by 0.50 per cent in two phases.

The central bank will announce its next quarterly review of credit policy on 29 July, when it may announce further measures to absorb money supply.