Rising rates, slowing growth

Unless demand in the BRICS countries shrinks and global commodity prices fall, the RBI's tinkering with rates may not be of much use. An accepted principle of editing in newspapers is “when in doubt, cut it”. The Reserve Bank of India's (RBI) counterpart principle seems to be “when foxed, raise it.” So it has raised the price of money yet again — the twelfth time in about a year. 

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