In its war against inflation, the RBI has set a record, hiking rates 12 times in the past one year, including a mega hike of a straight 50 bps the last time. With the next review meeting coming up soon, economists have been debating if the RBI should give it a breather now, considering growth has slowed significantly and investment sentiment is down in the dumps, not to forget the market that is on a downtrend.
Morgan Stanley's Chetan Ahya, however, believes that inflation is indeed an important aspect for future growth and therefore, it needs to be beaten down, even if we need to sacrifice growth in the near-term.
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