.......The new RBI governor has once again said inflation-busting is the key objective of the monetary policy, especially at a time consumer price inflation has resolutely stayed above 9 per cent. The subtle, nuanced shift in the recent monetary policy statement by highlighting consumer price inflation rather than that measured by the wholesale price index (WPI) has sparked speculation that the RBI may raise interest rates once again. Rajan admitted that as the RBI hunkers down and tackles inflation, “there may be more of a growth sacrifice”........
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