RBI's Subbarao highlights new ‘trilemma' facing central banks

Central bank responsibility for sovereign debt sustainability must be clearly defined and restricted to protecting financial stability if central banks are to retain their autonomy from government, Duvvuri Subbarao, the governor of the Reserve Bank of India (RBI), said on February 1.

Subbarao made the comments at the Second International Research Conference held in Mumbai, India, entitled Monetary Policy, Sovereign Debt and Financial Stability: The New Trilemma. The conference featured a number

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