Although we are not a member of the Financial Stability Forum (FSF), we were one of the countries specially requested to help its Task Force on the Implementation of Standards and subsequently, the Follow Up Group on Incentives for Implementation of Standards. The Reserve Bank’s Standing Committee on International Financial Standards and Codes (Chairman: Dr. Y.V.
Nothing will bring the present expansion to an abrupt halt more quickly than an outbreak of inflation. Assessing the balance between total demand and supply in the economy and the implications for inflation will be an ongoing challenge for monetary policy.