……..Subbarao knows that he cannot relax his vigil on inflation. The pyrotechnics on CRR are intended to make up for slowing down on repo rate cuts. So forget about a 50 basis points cut in repo on 15 March. Be happy if he even does 25 bps – just to keep the FM happy. And don’t count on too many more cuts to follow. Subbu is no wimp on inflation.…….
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