Crude oil continues to slide, and has already dropped below $60-per-barrel
http://www.usatoday.com/story/money/business/2014/12/11/crude-oil-dips-below-60-a-barrel/20261033/
This is why RBI chief Raghuram Rajan should have cut rates, in order to better align with the price drop. Instead, he's just been taking things too slowly and lagging the markets. By not cutting interest rates sooner he has missed an opportunity. As usual, he'll keep India playing catch-up instead of staying abreast of the trend.
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