The Monetary Policy Committee of the Reserve Bank of India (RBI) on Wednesday decided to leave the policy repo rate unchanged and maintain an accommodative stance as long as necessary to support economic growth. Although the inflation rate has come down in recent months and is expected to remain within the tolerance band of the RBI, the real policy rate will continue to remain in the negative territory. Besides, the core inflation continues to remain elevated and is close to the upper end of the tolerance band. But as our lead editorial notes, the RBI is gradually addressing the liquidity