Even while the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy, the key challenge is to evolve a consistent framework for implementation. References Bank for International Settlements (2009), 79th Annual Report, June.
It, however, declined to around 4.0 per cent in August, before climbing back to 5.0 per cent or more since September 20, 2003. Inflation rate has risen further since the Mid-Term Policy on November 3, 2003 and as on December 20, 2003, the point-to-point inflation rate was 5.6 per cent.