RBI MPC: Governor Shaktikanta Das reveals how cricket and weather guide monetary policy
Governor Shaktikanta Das declared the central bank's latest monetary policy decision. He emphasized that the RBI does not follow overseas policies blindly but adapts to local economic conditions, likening it to playing cricket according to the local weather and pitch conditions.
RBI Monetary Policy: Cricket and Local Weather Analogy
Governor Shaktikanta Das, during the policy announcement, clarified the RBI's stance on being influenced by global monetary policies. «There is a view that in matters of monetary policy, the Reserve Bank is guided by the principle of ‘follow the Fed’. I would like to unambiguously state that while we do keep a watch on whether clouds are building up or clearing out in the distant horizon, we play the game according to the local weather and pitch conditions,» he said.
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Das further explained, «While we do consider the impact of monetary policy in advanced economies on Indian markets, our actions are primarily determined by domestic growth-inflation conditions and the outlook.»
RBI Monetary Policy: Cricket Analogy and Policy Decisions
This is not the first instance where Das has used cricket analogies to describe monetary policy decisions. In October 2023, he likened policy-making to adapting to a cricket pitch's conditions.
RBI Monetary Policy Key Decisions
On Friday, the RBI's Monetary Policy
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