RBI: First, do no harm

With just two, possibly three, of RBI’s conditions for not hiking policy rates met, the question is whether the central bank will, or should, raise interest rates on January 28. While headline WPI inflation is down from 7.52% in November to 6.16% in December thanks to primary goods inflation coming down from 15.9% to 10.8%, headline CPI is down from 11.16% to 9.87% with vegetables inflation coming down from 61.1% to 38.8% in the same period.

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