...........“Monetary policy benefits from clarity and transparency,” Bernanke said. “In a country where inflation is high, it is important that the market knows what you are doing.” To be sure, even with a single mandate, a central bank has to pay attention to growth to some extent, he said. Bernanke’s statement will boost the Reserve Bank of India’s efforts to target inflation in a more dedicated manner. A central bank panel headed by RBI deputy governor Urjit Patel had recommended that the bank should make inflation-targeting its central purpose. RBI is yet to accept the recommendations fully..............
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