RBI executive director says ‘multiple instruments' needed to stem EM capital outflows
Mohanty: ‘spill-over' from advanced economies ‘increasingly recognised'
Multiple instruments, including drawdown of foreign exchange reserves, monetary tightening and augmentation of reserves are needed to dampen speculative capital outflows in emerging, Deepak Mohanty, executive director of the Reserve Bank of India, said at a symposium in Colombo, Sri Lanka, yesterday.
He added that the ‘spillover' from advanced economies' monetary policies to emerging markets was "increasingly recognised in academic literature and acknowledged by international institutions such
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