Jaywalking at the RBI
RBI’s obstinate refusal to cut policy rates, and the moving of its policy stance from neutral to accommodative, is not based on economic logic. Both headline and core inflation data argue for a rate cut
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RBI’s obstinate refusal to cut policy rates, and the moving of its policy stance from neutral to accommodative, is not based on economic logic. Both headline and core inflation data argue for a rate cut
Ideologies are determining politicians’ assessment of the costs of the policy. Amid the commotion, food prices have been stable
Demonetisation will have no benefits if the government does not follow up with tax reforms, reduce discretionary powers of bureaucrats and reform election laws
Experts have long questioned the effect of currency undervaluation on overall GDP growth. They have viewed the underlying basis for this policy—intervention in currency markets to keep the price of the home currency cheap—as doomed to failure on both theoretical...