Which of the following statements is true, according to the passage? (i) India’s Monetary Policy Committee has decided to take an accommodative policy stance and decided to leave interest rate unchanged, even after the economy was severely hit by the pandemic. (ii) According to the RBI Governor, Consumer Price Index-based inflation is peaking in the current, fourth fiscal quarter and averaging 5.7% after moving close to the upper tolerance threshold of 6% in January. (iii) The MPC has forecast the inflation to average 4.5% over 2022-23 because of a significant certainty, which is the normal monsoon. (iv) Without formalising policies, like that done by the Federal Reserve, the RBI has a high probability to fall behind the curve.