.......Subbarao doesn’t think the time is ripe to touch the repo rate, the rate at which the RBI lends to banks. That may be based more on inflation than market liquidity conditions. Inflation has eased in the food sector but the overall CPI is still above the RBI’s target levels. So, in the monetary policy review on March 15, either the RBI will continue to wait and watch inflation, or could take a small step forward, maybe 25 basis points, on the rate cut cycle..........
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