“Inflation expectations play a central role in setting and conducting monetary policy in modern times,’’ Patra wrote. “Over a finite time horizon, inflation expectations reflect the credibility of the monetary authority’s commitment to stated objectives. The effectiveness of monetary policy is likely to be greater if inflation expectations remain anchored.’’
from News-Economic Times https://ift.tt/2taqJTk
Inflation a monetary phenomenon: MD Patra
January 15, 2020
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