In this paper, the interaction between inflation and monetary policy rules is analysed within the framework of a … illustrated that the control of monetary policy over the inflation process is strongly dependent on the role of forward looking …

The Reserve Bank of India (RBI) has moved away from a broad money target toward a “multiple indicators” approach to the … has been de-emphasized, developments in the monetary aggregates remain an important indicator of future inflation. The … exchange rate and import prices are also relevant, particularly for inflation in the manufacturing sector …