Monetary policy is at work. Substantial disinflation has been achieved, but the road to be travelled stretches ahead till inflation declines to the target of 4 per cent, said an article published in RBI's latest Bulletin. The government has mandated the Reserve Bank of India (RBI) to ensure retail inflation based on the Consumer Price Index (CPI) remains at 4 per cent with a margin of 2 per cent on either side.