At 2.30 pm on October 4, 2017 the resolution of the Monetary Policy Committee (MPC) was released on the website of the Reserve Bank of India (RBI) and history was made in a small way. Exactly a year ago, a page was turned on a tradition that went back to the origins of the RBI in pre-independent India.
Gross general government debt is expected to peak at 96% of GDP in the euro area this year vs. 106% in the US and 244% in Japan. Second, economic governance at European level has been improved by implementing the Macroeconomic Imbalance Procedure (MIP). The MIP has been set up to enhance surveillance, identify potential risks and correct existing imbalances.