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    <title>Assessing Inflation Targeting (Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - October 14, 2024 - at the High Level Conference “Central Banking at Crossroads” organised by the Reserve Bank of India as apart of commemoration of its 90th year at New Delhi, India)</title>
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    <description>Inflation targeting endures through its core pillars of flexibility, transparency and credibility, with reviews refining headline target specification, tolerance bands, midpoints, and accountability over time. Jurisdictions have adopted distinctive modifications-such as averaging regimes or symmetric targets-while reviews remain inconclusive on embedding financial stability trade-offs, the costs of prolonged balance sheet interventions, and asymmetric communication during policy reversals. Emerging markets complement IT with foreign exchange interventions and macroprudential measures to manage spillovers, and India&#039;s flexible framework relies on medium term headline targeting achieved over time under shared responsibility between government and central bank.</description>
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      <description>Inflation targeting endures through its core pillars of flexibility, transparency and credibility, with reviews refining headline target specification, tolerance bands, midpoints, and accountability over time. Jurisdictions have adopted distinctive modifications-such as averaging regimes or symmetric targets-while reviews remain inconclusive on embedding financial stability trade-offs, the costs of prolonged balance sheet interventions, and asymmetric communication during policy reversals. Emerging markets complement IT with foreign exchange interventions and macroprudential measures to manage spillovers, and India&#039;s flexible framework relies on medium term headline targeting achieved over time under shared responsibility between government and central bank.</description>
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