.......Hence the pressure on the RBI to cut interest rates is heavy, and is increasing as data continues to disappoint. The RBI is maintaining that inflation is its primary concern and is thus not moving interest rates to counter the growth slide, a move which might also weaken the currency and thus exacerbate the trade deficit in the near term. In short, the RBI’s key interest rate is probably going to stay unchanged, as pressure to cut from the slowing economy cancels out inflationary pressure to increase it.
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