EDITORIALMONETARY POLICY AND INFLATION DYNAMICS
A Predictable Rise: Inflation Will Remain High in the Foreseeable Future
July's retail inflation print, the highest in 19 months, has sharpened a genuine policy bind for the RBI's Monetary Policy Committee: supply-side pressures from food and a geopolitically exposed crude import base are pushing inflation upward at precisely the moment high-frequency indicators show economic momentum weakening, forcing a choice between holding rates to fight inflation and cutting them to support growth.
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