Mumbai, March 5 (IANS) Global financial services firm Moody's on Thursday lauded India for setting up a new mechanism to tame inflation through the Reserve Bank of India (RBI).
"The new mechanism targeting inflation will increase predictability of the central bank's monetary policy and the effectiveness of its tools to take future price trends into account," Moody's investors service associate analyst Shirin Mohammadi said in a statement here.
The central government has recently (February 20) signed an agreement with the RBI to reduce inflation to less than six percent by January 2016 and four percent by March 2017.
Terming the initiative 'credit positive' in terms of rating, the US-based credit rating agency's representative said that quantitative inflation would usher in transparency in the monetary policy and enable the stakeholders to know the drivers of the RBI's actions.
"The new mechanism will anchor inflationary expectations and increase the monetary policy's effectiveness in achieving the desired results," Shirin said.
Cautioning that unchecked inflation may hurt growth, the global credit rating agency said it (inflation) was driven high by food and commodity prices from 2011 to 2014, compromising growth.
"Increase in transparency and effectiveness of monetary policy will check volatility in capital flows into the country and support institutional framework," the statement added.
On his birthday this year, Salman Khan was spotted arriving in Jamnagar amid tight security for t
After the Supreme Court's order regarding stray dogs, the exercise to implement the guidelines ha
Gadkari appears in court, quizzed by Kejriwal lawyer
New Delhi, March 21 (IANS) Union minister Nitin Gadkari appeared in a court here on Saturday in
Samsung Galaxy S21: This awesome Samsung phone got an Android security patch, know the full details
Samsung Galaxy S21 Series: Samsung Galaxy S21 series started receiving Android security patches i
Amitabh Thakur submit rebuttal to chargesheet, Not at fault
On thrusday Suspended IPS officer Amitabh Thakur Told reporters, “I was
The narco test of Aftab Amin Poonawala, accused in the murder of live-in partner Shraddha Walker
In the Indian Premier League 2022, Kolkata Knight Riders registered a spectacular victory by 54 r
Cryptocurrency: The crypto market remains bullish, with Bitcoin up 2% while Ethereum is up 4%
The cryptocurrency market has been able to maintain its gains during the last 24 hours due to the
Rohit Sharma was on Sunday lauded by the five-time IPL champions' players and coaching staff for
RJD Training Camp: Lalu Yadav said, agitate - fill the jail, do not be afraid of trial, Satyagraha is necessary against injustice
RJD supremo Lalu Yadav on Tuesday told workers and party leaders that satyagraha against injustice i
