........What is important is the strong message coming through, both in the press release and in the interaction of the governor with the media, that the RBI is not soft on inflation. There is a reassuring statement that, if the expected fall in inflation does not take place, the central bank will take appropriate action even before the next review. Though growth is mentioned, there is not much focus on it. In fact, comfort is indirectly derived from the fact that slower growth should contribute to some relief in inflation!..................
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