IMF paper: Indian monetary policy transmission is improving
Improvements to policy framework may have fed into faster transmission
A working paper published on June 23 by the International Monetary Fund may provide some comfort to the Reserve Bank of India, which has long been concerned about the degree to which its policies passed through to the economy.
Monetary Policy in India: Transmission to Bank Interest Rates, by Sonali Das, examines the credit channel to test whether improvements to the monetary policy framework have led market rates to become more responsive to such changes.
Das notes the monetary policy framework
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