premise: "A rate cut today would have made the RBI a laughing stock <hypo>." RESERVE RATIO CUT The RBI cut the cash reserve ratio, the share of deposits banks must keep with it, by 25 basis points to 4.5 percent in a move to inject about 170 billion rupees ($3.12 billion) into the banking system ahead of expected liquidity tightness due to advance tax payments and festive-season demand.
hypothesis: <hypo> should be "given that inflation is high, rising and will rise more, and it is already above the RBI's forecast"