....Governor Rajan's desire that emerging economies have a larger say in setting the global monetary policy agenda is an idea whose time has not come. The reason is simply that the US Federal Reserve does not have a preset path to normalising it's monetary policy over the medium term. Although, the Fed has been reducing it's monthly purchases of bonds and mortgage backed securities (MBS) by $10 billion each month, there is still a lot of speculation amongst market participants as to when ...... ..
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