.......“On the last occasion, the decision took was largely influenced by external sector considerations. Wholesale Price Index (WPI) was showing downward sign and non-food manufacturing inflation was below three per cent,” Rangarajan said. “But the pressure on rupee prevented the RBI to go in that direction (of policy easing) and it took a pause. And therefore, if the pressure on the rupee eases, then it will give greater room for the Reserve Bank,” ...........
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