Forward guidance not always a positive sum game: Subbarao

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Duvvuri Subbarao, the governor of the Reserve Bank of India (RBI), on Monday said the use of monetary policy statements by central banks to manage market expectations was not always necessarily a "positive sum game".

Speaking at the Stern School of Business at New York University, Subbarao said that while successful monetary policy required forward guidance in policy statements, central banks faced several dilemmas regarding the conditionality and wording of their intended communication. "It

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