A nuanced monetary policy, in a very complex context3 min read 10 Apr 2022, 11:17 PM IST
China did not become a powerhouse because of its monetary policy framework, but created enough jobs, output, and exports to make monetary policy redundant
Between the scars of the pandemic and the challenges from the Russia-Ukraine war, our economic context is a policymaker’s nightmare. Two years on, economic activity is barely at pre-pandemic levels. Within this, larger firms have done well with increased formalization, even as small businesses have struggled. While contact-based services should now resume, the global backdrop continues to cloud our recovery.
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