Phrase by 'Urjit Patel'
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An owl is traditionally a symbol of wisdom, so we are neither doves nor hawks but owls, and we are vigilant when others are resting.
Author: Urjit Patel - Indian EconomistOthers , Wisdom , Owl , Resting
The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable - there is financial stability - and that is the role that the central bank plays.
Author: Urjit Patel - Indian EconomistBest , Support , Way , Growth
The monetary policy committee could either keep rates constant, increase them, or bring them down. There are three options possible compared to when it is accommodative.
Author: Urjit Patel - Indian EconomistThree , Down , Possible , Bring
We should redefine the metric for effective lending, viz., prioritise loans to enterprises, which will generate more employment.
Author: Urjit Patel - Indian EconomistMore , Will , Should , Employment
Yes, 4% is the government-mandated target to the MPC. The plus/minus 2 percentage-point upper and lower bands are the tolerance levels specified by the government. If we breach those for three consecutive quarters, we need to inform the government of why that happened and what we propose to do to bring inflation within the two bands.
Author: Urjit Patel - Indian EconomistNeed , Three , Government , Tolerance
I think it is important that we should be on the side of keeping borders open with respect to trade and movement of factors of production.
Author: Urjit Patel - Indian EconomistThink , Respect , Important , Side
From the RBI side, the fake Indian currency note is an important issue that needed to be addressed. The other collateral benefits from this, in terms of greater accountability, better public finance, more transparency, are, by definition, areas that take time to fully play out.
Author: Urjit Patel - Indian EconomistTime , Better , Finance , Fake
I think India's policy that the openness of trade should be carried through a multilateral process is the right one.
Author: Urjit Patel - Indian EconomistThink , Process , Trade , India
The lack of a consistent policy from major economies is the main source of volatility.
Author: Urjit Patel - Indian EconomistPolicy , Lack , Source , Consistent
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.
Author: Urjit Patel - Indian EconomistOnly , Bank , Interest , Policy