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    <title>Globalisation of Inflation and Conduct of Monetary Policy (Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - July 9, 2022 - Delivered at the Kautilya Economic Conclave, organised by Institute of Economic Growth in New Delhi)</title>
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    <description>The speech explains that concurrent global supply shocks have produced protracted, synchronised inflationary pressures that heighten the need to recognise the globalisation of inflation. India&#039;s response balanced supporting recovery with anchoring expectations under a flexible inflation targeting framework, using calibrated conventional and unconventional tools, time contingent and state based forward guidance, explicit sunset clauses for liquidity measures, and a shift to withdrawal of accommodation including repo rate increases and the Standing Deposit Facility to manage the medium term inflation trajectory and preserve macroeconomic and financial stability.</description>
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