There was severe deficiency in rainfall during 2009–10, which adversely affected the food prices. Moreover, global commodity prices rebounded from the trough reached during the crisis. Fuel prices rose significantly during this period. Manufactured non-food products inflation also reverted to its medium-term trend (Chart 2).
BIS central bankers’ speeches  3  The Reserve Bank, in its Second Quarter Review of monetary policy in October 2009, highlighted the need for exit from crisis-time monetary policy stimulus and withdrew the unconventional liquidity support measures and restored the statutory liquidity ratio (SLR) of banks to the pre-crisis level.