Central banks have increasingly embraced more open communication to counter the criticism that an autonomous central bank comprising unelected decision makers was inconsistent with a democratic structure. Communication in Reserve Bank In the Reserve Bank, we have tried to improve communication not only on monetary policy but across the entire spectrum of our mandate. We have make efforts to demystify the Reserve Bank.
While the growth performance of the Asian region, the Middle East, CIS countries, the African countries and the Latin American countries has shown resilience, in view of the lack of sustained recovery in the industrialised countries, several new uncertainties have arisen. It is not clear as to what extent the US dollar would depreciate and how the global economy would adjust to that.