The recent rupee appreciation, followed by rumours of RBI appreciation, has set off fears that we’re in for a repeat of the sad episode of monetary policy 2006/2007 all over again.
Writing in the Business Standard, Shankar Acharya repeats the advice that he gave RBI in 2006 and 2007. But new perspectives are now visible: see a striking piece by Ravi Jagannathan in DNA, and Pratap Bhanu Mehta in the Indian Express.
Ila Patnaik, in the Indian Express, emphasises that monetary tightening and exchange rate appreciation go together.
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