Tushar Poddar, Goldman Sachs said, "We continue to expect no more rate cuts in 2013. The hawkish statement by the RBI corroborates our view and we think market expectations of more than 50 bps of rate cuts in 2013 from here will gradually come down. That said, we do expect the RBI to continue to inject liquidity into the system through Open Market Operations (OMOs) and CRR cuts as necessary."
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