.........Does this mean, then, that it should lower rates to stimulate growth? Unfortunately, tempting as this inference may be, it is not necessarily correct. While lowering inflation may be proving to be a huge challenge, provoking it to accelerate will turn out to be surprisingly easy. The first sign of the RBI having lowered its priority on inflation fighting could trigger a spiral, which, historical experience tells us, is extremely difficult to contain. Frustrating, no doubt, but this is the price that the economy must pay for ..........
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