Welcome to that sacred ritual known as Monetary Policy Day, a day when central bankers speak in tongues, markets pretend to listen, and everyone else scrambles to sound like they understood any of it. Like Deepaavali for economists, but with less joy and more jargon.At the scheduled time the Monetary Policy Committee emerges from their sanctum sanctorum, robes fluttering, or is that just the air conditioning, to deliver what they describe as a “measured, data driven, forward looking, yet non committal” policy decision. The repo rate is adjusted by 0.00%, which is somehow described as both hawkish and dovish: “hawkish hold” if you are feeling spicy, “dovish pause” if contradictions appeal. No matter. There is a press release, a statement, a technical appendix and a vague hint about the “stance,” which, like a yoga pose, is always open to flexible interpretation.
.png)
