From Panglossian to Floccinaucinihilipilification: RBI msgs get complicated

Central bank watchers are already battling to predict policy makers' next move after the MPC cut interest rates by an unconventional 35 basis points

As India’s economic climate becomes more complicated, so have the messages from monetary policy makers. 

Central bank watchers were left scrambling this week for their dictionaries and Google searches to decipher parts of a speech by Governor Shaktikanta Das and minutes of the recent monetary policy committee meeting.

In the minutes, published on Wednesday, MPC member Chetan Ghate said “estimates of economic growth in India have unfortunately been subject to a fair degree of floccinaucinihilipilification. Notwithstanding this, growth is likely to pick up.” The Oxford dictionary says the word is a rare one originating in the mid-18th century to describe