Even after entering a rate reversal cycle, the Reserve Bank of India (RBI) is refusing to give up on its fight against inflation. Caught off-guard on inflation projections in the past two years, it is maintaining a hawkish stance. Yesterday, RBI Governor D Subbarao said the central bank was "deeply sensitive" to the problem. "We are committed to bringing inflation under control. It has been our effort over the last two years and will continue to be our effort," he said.......
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