ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Strengthening Dynamic Role of Monetary Policy

The repo rate exceeding the overnight call money rate continuously for months and the forward premia for the US dollar in the domestic forex market dipping below interest rate differentials may be said to reflect loss of effectiveness of monetary instruments. To restore the dynamic aspect of monetary policy, action on three fronts is called for.

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