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Art of monetary policy making - the Indian context

· Shaktikanta Das, Governor of the Reserve Bank of India (India)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, growth, investment and productivity

SD
· Shaktikanta Das Wiki · Reserve Bank of India WikiArt of monetary policy making - the Indian context

ContextDiamond Jubilee distinguished lecture at the Delhi School of Economics; the Reserve Bank of India keeps inflation in check and explains how it sets policy.

Why it mattersDas explains how flexible inflation targeting balances growth and price stability.

Problems raised
  1. Inflation breached the 6% upper tolerance.
  2. Supporting growth while controlling inflation is difficult.
  3. Shocks require flexibility.
Solutions proposed
  1. Use flexible inflation targeting.
  2. Shift priority to inflation when it gets too high.
  3. Keep inflation expectations anchored.
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