............"Inflation above 6 per cent would justify, indeed demand, tightening of the monetary policy stance. It is this understanding that has informed our monetary policy stance," Subbarao said while delivering the fifth IG Patel memorial lecture at the London School of Economics. "Monetary policy is inevitably the first line of defence to guard against inflation getting generalised through unhinged inflation expectations," the governor said, adding he wants inflation to ideally be in the 4-6 per cent range.......
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