A glass half full ... or half empty?

In the annual policy meet on April 17, the Reserve Bank of India surprised the market with a 50-basis point cut in the repo rate. However, in the next policy meeting on June 18, the central bank governor, D Subbarao, delivered a shocker by not only holding rates but also with his hawkish statement - that inflation was too high to cut rate. Ahead of the first quarter policy review on July 31, Business Standard takes a look at how the parameters that decide monetary policy actions changed in the last three months(Click on graphic)