On this score, too, policy has been very supportive by lowering inflation and stabilising inflation expectations.
Our much-maligned stewardship of the Bank, including our monetary policy – with accusations of policy zig-zagging, questions about why the Governor was still in post, and in one notorious editorial in a major local daily, in November 2008, calling the Governor the chief putschist who would no doubt meet the same fate in the “ides of December” as befell Caesar in the ides of March, a near-incitement to murder the incumbent – that policy has earned kudos from knowledgeable observers who have examined the evidence and have pronounced that it can serve as a model for others in our situation.