Current account targeting or inflation becomes the objective. You will have a framework to ensure that the extra money that comes in doesn't lead to change in competitiveness.
More Quotes from Shuchita Mehta:
Industrial output was way ahead of expectations on the back of a strong recovery in manufacturing sector output.Shuchita Mehta
Strong economic growth will lead to higher inflationary pressures leading to more rate increases in 2006. The central bank may be looking for time before resuming tightening yet again.
Shuchita Mehta
The number is much stronger than expected. It bodes well for the economy, and the growth momentum is getting reflected in the capital market.
Shuchita Mehta
The rapid growth in loans and prices of assets such as real estate and stocks is a concern. The central bank may raise interest rates. It's better to err on the side of caution.
Shuchita Mehta
Growth momentum remains strong and that should lead to higher inflation and interest rates.
Shuchita Mehta
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