.......So, if opinion is unanimous that the RBI will play with a straight bat - to use new governor Raghuram Rajan's fondness for cricketing analogies - tomorrow, the reasons are not far to seek. They are steeped in history. The RBI, despite its legal infirmities, is an inflation fighter. In all likelihood, therefore, the RBI will raise the repo rate by 25 basis points to 7.75% and, possibly, cut the interest rate on its marginal standing facility at which banks borrow from the RBI by a like amount. .........
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