鉴于不确定性,这种舒适的推销恰当举动:前印度储备银行州长D Subbarao

在市场似乎关注全球不确定性的可能含义并担心衰退庞大的时候,印度储备银行的“适应性立场”被誉为恰当及时的措施。

“I think so,” says economist and former RBI governor D Subbarao and explains: “the April monetary policy context has become much more complex and uncertain compared to what was in February. There are growing concerns of a possible recession around the world coupled with intensified geo-political tensions. At times of uncertainties, it is incumbent upon the central bank to provide comfort to the markets in terms of making the necessary adjustments and signalling a change in从“中立”到“适应性”的立场。

后来,印度储备银行州长桑杰·马尔霍特拉(Sanjay Malhotra)在他的声明中说:“前进,MPC仅考虑两种选择 – 现状或降低税率。”然而,他也澄清了我们的立场:“提供政策利率指导,没有任何有关流动性管理的任何直接指导”。

In the light of the evolving macroeconomic and financial conditions and outlook, the MPC had according to governor Malhotra “voted unanimously to reduce the policy repo rate by 25 basis points to 6.00 per cent with immediate effect; consequently, the standing deposit facility (SDF) rate under the liquidity adjustment facility (LAF) shall stand adjusted to 5.75 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.25百分比。”

马尔霍特拉(Malhotra)将全球经济描述为“经历了一段特殊的不确定性时期”,他说:“从嘈杂和不确定的环境中提取信号的困难对制定政策构成了挑战。但是,货币政策仍然可以在确保经济仍然存在于龙骨上的重要锚定作用。”

虽然眼睛大部分是在美国,但很难不忽视中国宣布六个中东国家和10个东盟国家已经同意中国数字RMB跨境解决系统的同意。这对近40%的全球贸易产生了影响。一种观点是,也许印度储备银行可以加大努力来增加双边卢比的贸易。但是随后,Subbarao提醒印度的全球贸易足迹与中国相比仍然相对较小,除非双边贸易大致平衡,否则其他国家很难积累卢比,因此,以卢比为主的贸易成为现实,“我们的贸易足迹必须大大增加。”

不过,印度储备银行州长马尔霍特拉(Malhotra)确实指出:“我们的目标是建立在不断增长的需求和供应响应和持续宏观经济平衡的基础上。与以前一样,我们将保持敏捷和果断的反应,并确定其政策,并确定这些政策,这些政策是一致的,可靠的,可靠的,并且是经济的最佳利益。”