Has RBI just ruled out a rate cut?

........A rate cut would have been possible if inflation was lower. The RBI, so far, hasn’t been able to reign in inflation because of structural rigidities in improving the supply side. It cut repo rates by 0.50 basis points to 8%, in April, a surprise move which caught many investors, savers and the financial community off guard. In fact, the RBI panicked as inflation was actually rising when the central bank had left rates intact for a period of time, after continuously hiking rates, for more than a year, to reign in inflation. Hence...........................

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