Selected Tag: central banks
Selected Tag: central banks

Shock Rules, Not Shock Responses         

Lagarde’s three principles recast shock response as risk management. For the RBI, the task shifts to containing spillovers, not just inflation.

BasisPoint Groupthink

March 26, 2026 at 5:13 AM IST

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Via WikiCommons

Why Central Banks Intervene and Why the FX Rate Matters for the RBI

Capital flows now dominate currency markets, forcing central banks to intervene. This essay explains why exchange rates matter for the RBI’s stability mandate.

Michael Debabrata Patra

March 5, 2026 at 6:28 AM IST

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Gold Fantasies vs. Financial Reality: The Reserve Narrative That Doesn’t Add Up

Claims of gold reclaiming a 1970s-style dominance in global reserves ignore today’s monetary reality, supply constraints, and the operational limits that keep hard currencies at the system’s core.

R. Gurumurthy

January 27, 2026 at 10:51 AM IST

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Screengrab from "RBI Unlocked: Beyond the Rupee" series (JioHotstar)

Japan’s Bond Shock Isn’t a Crisis — But It May Be a Warning Shot

Japan’s bond shock isn’t a collapse, but a warning that fiscal credibility, safe assets and global rate stability can no longer be taken for granted.

R. Gurumurthy

January 21, 2026 at 3:29 PM IST

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Briefing

India’s Exchange Rate Regime Faces a Moment of Truth

With the rupee trading like a caged bird and IMF reclassification looming, India faces a reckoning on what its exchange rate regime really is.

V Thiagarajan

November 26, 2025 at 3:22 AM IST

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Is Bessent Right About the Fed?

Did the Fed’s aggressive asset purchases inflate risky bubbles and blur its core mandate? A closer look at how unconventional policy may have compromised financial stability.

Willem H. Buiter

November 5, 2025 at 7:25 AM IST

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The US Department of the Treasury

The Next Crisis: Too Liquid to Fail, Too Clever by Half

When every crisis is met with more liquidity, risk mutates. The next meltdown may expose the limits of faith in money as the ultimate fix.

R. Gurumurthy

October 20, 2025 at 5:39 AM IST

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Opinion

Gold’s Rational Resilience in an Irrational World

For central banks, gold is not a relic of history but a rational hedge against the politics for & of money, the fragility of debt, and the unpredictability of power. 

Srinath Sridharan

October 12, 2025 at 3:33 PM IST

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Screengrab from "RBI Unlocked: Beyond the Rupee" series (JioHotstar)

Can Global Banking Rules Survive In A Fractured World?

The BIS is located in Basel largely because a century ago it was a convenient meeting point for central banks. Today, it is not the geography, but political fault lines that cut through Basel.

Howard Davies

March 4, 2025 at 3:26 PM IST

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Wladyslaw Sojka

The Bureau

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