ContextOpening plenary address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Summer Meetings, organised by Central Banking, London, 13 June 2023.
Why it mattersDas explains how separate tools helped India handle inflation and banking turmoil together.
Problems raised
Central banks faced three major shocks in three years.
Fighting inflation clashed with banking turmoil.
Liquidity support could create future fragilities.
Solutions proposed
Change policy gears quickly when needed.
Use separate tools for price and financial stability.
