Rajan wants global rules of conduct for central banks
RBI governor wants them to adopt a system for assessing the wider impact of their actions
Mumbai
RESERVE Bank of India (RBI) governor Raghuram Rajan called for global central banks to adopt a system for assessing the wider impact of their actions, including unconventional monetary policies now in use.
Mr Rajan proposed on Saturday that a group of academics should measure and analyse the "spillover" effects of monetary policies and indicate which should be used and which avoided. He suggested a traffic light system, grading policies green, orange or red.
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