Will inflation spike force Raghuram Rajan to hike rates in Dec?

.....Many analysts expect the Reserve Bank of India to raise its policy rate at least by a quarter of a percentage point to 8% by March next year. Can that happen in December? In his address to the media on Wednesday, RBI governor Rajan somehow gave the impression that he is not in a hurry to hike the policy rate. Since he took over in September, he has raised the rate twice—by a quarter percentage point each to 7.75%. In his address to the media on Wednesday, Rajan pointed out that even though consumer price inflation has risen, core consumer inflation has actually dropped.....

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