........“I must hasten to add that sacrificing growth is only in the short-term. In the medium-term, there is no trade-off between growth and inflation,” the RBI Governor said. “There is a threshold level of inflation. Below the threshold, may be, there is a trade-off between growth and inflation. But above the threshold, there is definitely no trade-off between growth and inflation,” he said. However, the RBI governor said his views on inflation should not be read as a preview to the decisions to be taken in the quarterly monetary policy review on July 31.............
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