India, the world's model central bank? Just maybe.
INDIA is becoming the gold standard for monetary policy in Asia, if not the world. While global markets are giddy from hints that the Federal Reserve may cut interest rates, India's central bank has been easing since February.
The BOJ is too focused on 2%
FOR the Bank of Japan, failure can be an opportunity. Judging from the latest economic forecasts, the central bank is falling even farther behind on meeting its 2 per cent inflation target. Meanwhile, its efforts to keep interest rates down are bringing the bond market to the verge of a coma. So...