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    <description>The MPC kept the policy repo rate at 6.25 per cent with a neutral stance to achieve the CPI inflation target of 4 per cent ( 2) while supporting growth; projections place headline inflation at 2.0-3.5 per cent in H1 and 3.5-4.5 per cent in H2 of 2017 18, contingent on monsoon, food management and fiscal pressures, and highlighted liquidity absorption operations and the need for bank recapitalisation and structural reforms to restore investment and policy effectiveness.</description>
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