RBI attempts to soothe market jitters with more rate reviews
The Reserve Bank of India (RBI) will start publishing mid-period monetary policy reviews in a bid to avoid catching markets off-guard, Duvvuri Subbarao, the governor of the central bank, said on Tuesday.
Releasing the central bank's First Quarter Review of Monetary Policy, Subbarao said the RBI will release a mid-quarter policy review, roughly one and a half months after each quarterly review. "By instituting these, it is our intention to take the surprise element out of off-cycle actions," he
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