...............Dr Subbarao, as you set your monetary policy goals later this month, think of the retirees and middle class earners who lose the value of their income and savings from easy money. It may seem like a lonely fight when you deal with the political and governing class, but there is a silent majority that appreciates sound money and stable prices. In the movie, the Knight Templar and his fighters are on the verge of defeat when the French army arrives to save the battle. For the central bank the path back to sound money is a long one. It’s not a battle of swords or guns, but a battle of ideas. If the Reserve Bank really wishes for sound money, it has make the concept easy to grasp for the average citizens. Then it will see support rise for inflation fighting..................
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