I’m pleasantly surprised by the economy’s ability to react: Raghuram Rajan

.....What I have said since then and I keep saying is that yes, inflation is a big concern for the Reserve Bank; that we intend to fight inflation. When we fight inflation, however, we keep in mind the state of the economy. Because of the lower level of output relative to potential, we also have disinflationary forces at work. Disinflation is not a one- month or two-month process. ..........

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