Understanding inflation targeting - The Hindu

Understanding inflation targeting - The Hindu My VIEW: Let us read the following observation again: "The third issue relates to institutional arrangements within the monetary authority to take policy decisions consistent with an inflation mandate. In several countries, a technical monetary policy committee is constituted with members drawn from the central bank, from the government and from outside experts. My preference would be to constitute a committee of the board of the RBI to do this. This is what was done when the Board for Financial Supervision was set up. While constituting the central board of the RBI, this aspect of the work of the bank must also be kept in view. " This is loaded with concern and advice much deeper than what one will find at first reading. It covers need for professionalism, preserving central bank autonomy and respect for words of wisdom coming from 'experience'. Hope North Block and Mint Road takes notice. M G Warrier


Popular posts from this blog



The King of Ragas: Sankarabharanam