To reflect the Reserve Bank’s point of view at the present time, the stance of policy for the period ahead has been enunciated as: •  To reinforce the emphasis on price stability and well-anchored inflation expectations while ensuring a monetary and interest rate environment that supports export and investment demand in the economy so as to enable continuation of the growth momentum.
All standards used in practice so far (e.g. the gold standard) have run up against criticism, as have approaches which have not left the drawing board (for example, an index currency, or a commodity-reserve-currency). Therefore, for good reasons, this path was not embarked on for EMU. If no standard is established which precludes all scope for action, then the persons who act also matter.