India:Rates unchanged,growth marked down,inflation up

4RBI kept the repo rate unchanged at 6%, and maintained its neutralstance。

    4FY18GVA forecast was revised down to 6.7%; inflation trajectoryrange was revised up to 4.2%-4.6% over 2H FY18。

    4We expect the RBI to be on hold, with faint risks of a 25bps cuttowards the end of fiscal year。