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Commenting on the policy perspective, Nomura Chief Economist Sonal Varma, " Today's data broadly fits in with the expected inflation trajectory in 2012 - i. e., headline inflation remaining in a 6.5- 7.5% range, with lower core inflation and higher food inflation. Most pre- conditions for a rate cut have been met, but we expect the Reserve Bank of India to wait until after the budget before cutting the repo rate in April". Last week, RBI had injected Rs 48,000 crore liquidity by reducing the Cash Reserve Ratio ( CRR) for banks. RBI, which had hiked policy rates several times up to October to tame inflation, has said the government needs to take fiscal steps, like reducing supply bottlenecks and subsidies, to tame price rise.......
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Commenting on the policy perspective, Nomura Chief Economist Sonal Varma, " Today's data broadly fits in with the expected inflation trajectory in 2012 - i. e., headline inflation remaining in a 6.5- 7.5% range, with lower core inflation and higher food inflation. Most pre- conditions for a rate cut have been met, but we expect the Reserve Bank of India to wait until after the budget before cutting the repo rate in April". Last week, RBI had injected Rs 48,000 crore liquidity by reducing the Cash Reserve Ratio ( CRR) for banks. RBI, which had hiked policy rates several times up to October to tame inflation, has said the government needs to take fiscal steps, like reducing supply bottlenecks and subsidies, to tame price rise.......
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