, Columnist
Central Banks Sow Confusion
From Washington to Mumbai, monetary policymaking is becoming excessively murky.
Patel's rate cut startled many investors.
Photographer: Arijit Sen/Hindustan Times/Getty ImagesThis article is for subscribers only.
If there’s a golden rule for central bankers in the 21st century, this is it: Seek clarity and avoid uncertainty. A central bank’s target should be clear. The data it uses should be known. The analysis it conducts on that data should be comprehensible. And, certainly, politics should have nothing to do with its decisions.
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