The January wholesale price inflation expected at 6.53% against 7.41% according to a CNBC-TV18 poll. The fall is largely because of the drop in manufacturing, food prices, which had shot up in January 2011.
The Reserve Bank and economists will be keenly watching the manufacturing index. Economists see the index rising by 6.3% this time around.
The central bank may remain dovish even if the number comes in higher.
Meanwhile RBI on Monday aligned the bank rate upwards to 9.5% with that of the marginal stability facility. The bank rate was at 6% but now will move in conjunction to the MSF rate. The RBI in its comments said the rate adjustment is a one-time technical adjustment and not a reflection of a monetary stance.
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