Higher inflation has complicated policy choices for most central banks, including in advanced economies. Central banks reduced interest rates and pumped liquidity into the system last year to deal with the disruption being caused by the Covid-19 pandemic. But the pace of economic recovery and pick-up in prices have surprised policymakers.
In this context, our lead editorial notes that although it’s not clear when all supply lines will start functioning normally, global commodity prices seem to be stabilising. Read here
In other views:
The gains from the sale of Air India would be incomplete if follow-up steps are not taken to reorganise the civil aviation ministry. Reforms of this ministry are long overdue, and the Air India sale should expedite such a decision, writes A K Bhattacharya here.
The only antidote to irrational exuberance is rational humility combined with a deep sense of self awareness. In times like today, it will help protect one’s wealth, health, and happiness, notes R Gopalakrishnan here.
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