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Time to cut rates

Market wisdom is that RBI won’t do much in its policy tomorrow as, the continuous fall in food inflation notwithstanding, the back of inflation still hasn’t been broken. Though WPI inflation fell to a two-year low of 7.5% in December, largely due to a fall in food inflation to 2.6% (the base effect was a big factor), it is argued that core inflation remains high though it has eased to a 5-month low.

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