The Reserve Bank of India, RBI on Monday stated that growth is likely to improve moderately in 2012-13, however inflation path could remain sticky around current levels. The bank, in its Macro-economic and Monetary Development Report for 2011-2012, said that the path of inflation in financial year 2012-13 could be sticky with high oil prices, large suppressed inflation, exchange rate pass-through, impact of indirect tax hikes, wage pressures and structural impediments to supply response.The RBI also hinted at lowering interest rates, saying that focus of monetary policy needs to be shifted to arrest declining growth while keeping inflation under control. The RBI said that inflation expectations moderated in the fourth quarter of 2012-13 but remain high. It said that with significant upside risks to inflation, monetary policy needs to keep them anchored, while shifting the balance of policy to arrest the deceleration in growth momentum.The RBI stated that monetary policy needs to support growth without risking external balance or inflation by excessive fuelling demand.