I certainly believe that the responsible recent budget did create room for the RBI to ease in April. Pragmatic inflation focus As you will understand from all that I have been saying, monetary policy under an inflation focused framework tries to balance various interests as we bring inflation under control. In doing so, we have to have a pragmatic rather than doctrinaire mindset.
If we are to maintain the peace and relative prosperity enjoyed in our region we, the people in this room, must accept the challenge of prioritising each other; working together; and trusting one another. This, I hope, is a challenge that you can accept - since it is quite possible that peace in our region depends on it.