FE Editorial : Here come the rate cuts

Jan 16 2013, 00:27 IST
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SummaryThough consumer inflation getting back to double digits probably puts paid to hopes of a 50 bps rate cut on January 29, almost any indicator a central bank should look at is at a multi-year low.

be consistent or not. Though RBI’s stated policy variable has been the modified core inflation, in recent monetary policy statements RBI has confounded all watchers by changing its goalposts from WPI to core inflation to CPI and even, in the August statement, to the output gap.

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