Its exploration of monetary policy questions may help grasp why outcomes didn’t match expectations
Listen to this article
Central banks across the world have been issuing mea culpas, having fallen behind the curve. Closer home, it might be legitimate to ask whether the Reserve Bank of India’s (RBI) off-cycle monetary policy action of early May can also be viewed as an apologia. The question acquires both agency and urgency in light of the central bank’s monetary policy research agenda for 2022-23.