...The
central bank admitted the decision to maintain the status quo had been a
close-run thing but that the situation merited a pause in the policy
tightening war on inflation. RBI will be vigilant on the inflation front
and won’t hesitate to take action whenever it deems necessary. “Current
inflation is too high,” it said in a release on Wednesday. “However,
given the wide bands of uncertainty surrounding the short-term path of
inflation from its high current levels, and given the weak state of the
economy, the inadvisability of overly reactive policy action, as well as
the long........
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