In the short term, the impacts of high growth and price rises are asymmetrical between the non-poor and the poor, warranting a greater emphasis on price stability at this juncture of high growth for maintaining social accord as well as securing popular mandate for the reform process itself.
In his welcome address, Governor Abdullah mentioned about the issue of inequalities in the context of globalisation and importance of central banks' commitment to stability and conducive environment for business. Similarly, in regard to financial stability also, we note that most of the active participants in financial markets are non-poor.