......................To be sure, one can expect the RBI Governor Duvvuri Subbarao to cut rates to revive the economy when he reviews monetary policy in mid-March. He may even surprise with a pre-policy cut. “But,” said said an economist with a foreign bank who did not wish to be named, “for rate cuts to have a meaningful impact on the economy, it takes a huge lag of 6 months or more.” It’s not a very comforting picture, in the interim.
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