RBI 'forfeiting monetary policy discretion' in bid to keep rupee in check
The Reserve Bank of India (RBI) has left its main interest rate unchanged at 7.25% despite anaemic growth and receding inflation as the country finds itself caught in a classic "impossible trinity" trilemma that is forcing monetary authorities to assuage markets by maintaining rates, according to governor Duvvuri Subbarao.
In a statement accompanying the RBI's latest monetary policy review, Subbarao noted that today's decision was informed by two considerations: the need for "continuous vigil
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