Need to do more to rein in yields: MPC

Need to do more to rein in yields: MPC
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Last Updated: Apr 23, 2021, 07:05 AM IST
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Synopsis
A debate about the efficacy of the central bank’s guidance appears to be intensifying within the MPC with Governor Shaktikanta Das hesitant to commit himself on a time-bound guidance, while Prof. Jayant Varma declaring it to be ineffective and calling for action by the central bank.
The conduct of monetary policy could be smooth and is firmly in control even if external factors such as rising dollar and a flight of capital happen.
Related
Mumbai: The resurgence of Covid virus dominated the Monetary Policy Committee deliberations with members worrying that economic recovery could stall leading to them suggesting that the Reserve Bank of India should dip into its arsenal to bring down long-term interest rates as forward guidance has failed to keep a lid on yields.

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