RBI’s message: All is well, for now
RBI's decision to hold rates is surprisingly optimistic, but also shows it's unclear about the demonetisation impact on the economy
Remember the rallying cry, “All is Well" in times of trouble from the movie 3 Idiots? That seems to have been the inspiration behind the Reserve Bank of India’s (RBI’s) surprisingly optimistic line on the impact of demonetization on economic growth on Wednesday.
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