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Ajay Shah points us to “the letter” that the Bank of England had to write to the Chancellor of the Exchequer since inflation crossed 3% - as an example of how monetary policy should work.
As we know too well - stuff like this isn’t likely to happen in India anytime soon. Between the conflicting agendas of the FM & the RBI, and the impossible trinity, what we end up with is “central bank mumbo jumbo“.
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