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    <title>Fundamental Shifts in the Global Economy: New Complexities, Challenges and Policy Options (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - February 15, 2024 - Delivered at the 59th SEACEN Governors&#039; Conference in Mumbai)</title>
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    <description>Central banks should recalibrate policy to balance price stability and financial stability amid higher-for-longer rates and debt vulnerabilities; strengthened prudential regulation, macro buffers and clear communication have supported resilience. Policymaking must incorporate supply-side and sectoral analysis to manage cost-push inflation, while governments build strategic reserves and invest in hard and soft infrastructure. International cooperation-secure corridors for critical minerals and food, scaled green capital flows, and interoperable digital public infrastructure for cross-border payments-alongside vigilance on AI/ML misuse, are recommended to mitigate fragmentation and preserve stability.</description>
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