Amid concerns over high inflation and the possibility of hike in key policy rates, Reserve Bank governor D. Subbarao today called on Finance Minister Pranab Mukherjee to discuss the state of economy ahead of the apex bank's monetary policy next week. Mr.Subbarao told reporters after the meeting that the apex bank is scheduled to announce the annual credit policy on 3rd of May .The RBI has increased short term lending and borrowng rates eight times since March 2010 to tame price rise. AIR correspondent reports that the bank has a challenging task of managing the inflationary pressure at a time when the industrial growth has started showing signs of going down. The inflation for the month of March remained at 9 percent breaching RBI's projection of 8 percent.