When 1970s stagflation made Keynes look obsolete, Nobel Prize winners Robert Hall and Michael Woodford redirected focus to how households and firms actually think about future. Their lesson is timeless: a central bank’s clear word can steady an economy before its rates do. This is why the RBI’s credibility matters.
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Nine years on, that belief has held.
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Meanwhile inflation has risen to 5.54%. Brent crude oil is $ 106. I can feel El Nino’s oppressive force in mid October. The RBI will have to keep raising rates.
Meanwhile inflation has risen to 5.54%. Brent crude oil is $ 106. I can feel El Nino’s oppressive force in mid October. The RBI will have to keep raising rates.
Meanwhile inflation has risen to 5.54%. Brent crude oil is $ 106. I can feel El Nino’s oppressive force in mid October. The RBI will have to keep raising rates.