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RBI needs to gradually tighten monetary policy to counter inflation: IMF

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(G.N.S) Dt. 09 New Delhi Reserve Bank of India will need to gradually tighten monetary policy further due to rising inflation, driven mainly driven by higher oil prices and a falling rupee, the International Monetary Fund (IMF) said today. The report comes within days of the RBI raising benchmark short term lending rate (repo) by 25 basis points to 6.5 per cent citing inflationary concerns. It was the second such

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