But as seductive as modeling is to us economists, we must remember that no model can fully capture a dynamic, ever-evolving economy such as ours. Thus, the staff’s forecast, and I’m sure the individual forecasts of each FOMC member, are in the end judgmental assessments.
This, along with the additional space created for SDLs, is expected to create a predictable regime. Based on experience, the feasibility of gradually opening up certain segments/tenors fully in order to enable inclusion of Indian G-Sec in global bond indices could be a possibility. 60.