rbi speech, 2024-09-24
For example, the Great Depression of the 1930s underlined the importance of fiscal and demand management policies; the Great Inflation of the 1970s brought to focus the need for credibility and consistency in policy frameworks; the global financial crisis of 2008 underscored that financial stability can not be separated from overall macroeconomic stability; and now the sequence of unprecedented shocks since the pandemic have driven home the need for policymakers to be agile, proactive, innovative and prudent in their policy responses, without being constrained by orthodoxies or dogmas.
Sentiment: neutral
Topic: mp_economic_activity