Thursday, April 25, 2013

Mr Bernanke's glasnost

.......Central banks globally seem to have realised that drafting and pursuing monetary policy in utter secrecy - a strategy pursued even by governors in the Reserve Bank of India, or RBI, till a few years ago - can actually be counterproductive, especially in asset markets sensitive to interest rates. These developments might have prompted Federal Reserve Chairman Ben S Bernanke to embark on a unique communication exercise...............

No comments: