Prime Minister's economic adviser C Rangarajan says, the Reserve Bankmay need to raise policy rates yet again to tame the high inflationrate of 8.6 per cent. Talking to newsmen in New Delhi he said, focusof RBI would be more on inflation than industrial production numbers.Industrial production in August nearly halved to 5.6 per cent,prompting calls from India Inc against further rate hikes.Rangarajan, however, expects industrial production to grow at around 9per cent and Indian economy to register 8.5 per cent growth rate inthe current fiscal.Rangarajan added that inflation is likely to come down to 6.5 per centby the end of December. The government too expects inflation to ease,primarily because of a fall in food prices on the back of goodmonsoon.AIR correspondent reports, the Reserve Bank is slated to review itsmonetary policy on 2nd of next month amid expectations that it couldtighten the policy further to fight high inflation. In its maidenmid-quarterly monetary policy review last month, the central bankupped repo, under which it lends short-term funds to banks, to six percent and reverse repo, the short-term borrowing mechanism, to five percent. The hike in the policy rates was the fifth this year.The decline in industrial production growth from 10.6 per cent a yearago is mainly on account of decline in output of capital goods, asector which reflects fresh investments in the economy.