Article : Impact Of Monetary Policy On Inflation: An Econometric Analysis


Impact Of Monetary Policy On Inflation: An Econometric Analysis


Dr. Archana Rathore

In developed and transition economies, Inflation targeting has emerged as a significant component of monetary policy framework. More the 20 central banks in the world have adopted the tool of basic monetary policy framework. In Indian Scenario, declining economic growth was a problem as well but not one that could be tackled by RBI alone. Target before the governor is controlling inflation as well as reviving growth in a sustainable way. Focus of monetary policy has been keeping check on inflation and obtaining inflationary expectations. As an indication of strong anti-inflationary stance, the Reserve Bank of India (RBI) has raised the key policy rates and holding back the cut in rates demand from business and government. This paper attempts to make an econometric analysis of the impact of changes in CRR, repo rate and reverse repo rate on inflation as a tools of monetary policy. Also a linear model on CRR, repo rate, reverse repo rate and inflation is being formulated for the policy makers  

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