4 min read.Updated: 11 Apr 2022, 01:27 AM ISTMythili Bhusnurmath
Both RBI and the country’s public need to prepare themselves for the long haul as inflation-targeting finally takes priority
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The German Bundesbank has long been the envy of central banks across the world. To understand why, just recall the words of European Commission President Jacques Delors 30 years ago: “Not all Germans believe in God, but they all believe in the Bundesbank." Sure, that was before the European Central Bank made the Bundesbank largely redundant. Even so, today, as central banks scramble to salvage their reputations amid the debris of shattered inflation projections, they want, above all, to be seen as credible.