RBI economists attempt to pin down India’s natural rate

Reserve Bank of India in Mumbai
RBI building in Mumbai
Photo: RBI

Economists at the Reserve Bank of India (RBI) have attempted to model the country's natural rate of interest, as a step towards better monetary policy-making, presenting their results in a working paper published today (October 14) by the central bank.

In their paper Natural interest rate: assessing the stance of India's monetary policy under uncertainty, authors Harendra Kumar Behera, Sitikantha Pattanaik and Rajesh Kavediya illustrate the difficulty of pinning down the natural rate by making

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