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from BUSINESS LINE, October 27, 2008 Thiruvananthapuram, Oct. 26 - The Reserve Bank may have been merely striking a strategic pause on Friday before it chose to engage the CRR-SLR levers 'as early as the next few days', says Mr Abheek Barua, Chief Economist, HDFC Bank.
The decision to stand pat after cutting repo by an unprecedented 100 bps was a bit confusing. It was imperative to be seen as doing something and that explains the rhetoric on growth, inflation and rates.
But this has lost relevance with the regulator making its (accommodative) stance abundantly clear through earlier moves. The focus should now be on limiting the impact of the severe global …