Shaktikanta Das: G20 for a better global economic order during India's presidency Address by Mr Shaktikanta Das, Governor of the Reserve Bank of India, at the 17th K P Hormis Commemorative Lecture, Kochi, 17 March 2023. *** I am delighted to have been invited by Federal Bank to deliver the K P Hormis Commemorative Lecture today.
In other words, if one becomes complacent about the current price stability and overlooks the accumulation of financial imbalances such as a “bubble,” there is a possibility that the economy will face a continued decline in prices after the burst of a “bubble.” The Bank stated that it will maintain the virtually zero interest rate policy on condition that examination of risk factors, including the accumulation of financial imbalances, does not reveal any problems.