........Addressing the FIBAC banking conference here, Sinha, without referring to the domestic context, where forex market volatility forced the RBI to adopt liquidity tightening measures since the past one month, said monetary policy has to be sensitive and it cannot leave everything to macro- prudential measures. "Central banks while formulating their monetary policy will have to keep a much longer time horizon (normally two years) in view and adjust their monetary policy so that the objective of financial stability is achieved even if it leads to some dip in growth and some under-shooting of inflation target," Sinha said, though he did not directly allude to the domestic context.........
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