Limits of a High Interest Rate Policy as Initiated in India*

May 9th 2022, Sunanda Sen
The announcement, on May 4, for a 40 bp raise in the policy Repo rate along with a 50 basis point rise in the cash-reserve ratio by the Reserve Bank of India is claimed officially as a measure to put a rein to current inflation, currently fuelled by the rising food prices rising at 7.68%, oil and fats at 18.79% and vegetables at 11.64% over the same month.


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