......However, falling global oil prices and declining core inflation as well as growth offered the RBI room to adjust interest rates, RBI deputy governor Subir Gokarn said last week. While inflation remains iffy, largely due to food products, at 5.3%, GDP growth in the March quarter was the lowest in nine years. As Citigroup economist Rohini Malkani puts it, “While our base case is one more round of rate easing, subdued trends in growth coupled with lower core inflation could result in the RBI easing more than ours as well as market expectations.”......
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