RBI Governer D Subba rao had said that the Reserve Bank will continue to monitor macroeconomic conditions, particularly the price situation, closely and take further action as warranted.While addressing a press conference, he also told that the policy view was taken on liquidity, growth and inflation outlook for the next six months. Mid-policy action was not ruled out, after the Reserve Bank of India (RBI) raised policy rates by an expected 25 basis points. The RBI raised rates for the second month in a row as it battles inflation near double digits.