.............The growth -inflation dynamic was bound to figure prominently as indeed it does in all RBI statements., There cannot be substantial changes in the RBI’s monetary stance between the third bi-monthly monetary review of August and the annual report. With inflation continuing to remain at high levels, the possibility of a rate cut in the near future is practically ruled out. This is very much in line with recent monetary policy statements .The RBI’s hawkish stance to counter inflation -interest rates have been raised three times by 25 basis points each since September last,-will therefore continue. Retail inflation which was coming down ..........
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