Recent developments and the challenges for monetary policy 22. The persistent slowdown of emerging economies − which has also recently reflected the difficult path of adjustment in China from high levels of investment and debt – has put further downward pressure on commodity prices and increased downward risks for the world economy.
Our Recent Approach 15. At the Reserve Bank, we are mindful of the importance of  communication given our multifarious responsibilities and wider ramifications of our actions. We have followed a consultative approach by periodically interacting with various stakeholders on policy formulation. This has particularly served us well in designing appropriate policy responses, especially during the pandemic.