ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Medium Term versus Short Term

RBI's Policy Stance

The Reserve Bank of India has in its attempt to control the exchange rate volatility of the rupee perplexed the market. The short-term measures announced to limit money market liquidity went against its accommodative medium-term stance, causing considerable uncertainty in the market. In hindsight, they seem to have hurt the financial system as a whole.



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