Synopsis
“The market has drawn comfort from it as the central bank for the first time announced an asset purchase programme along with a counterbalance, a combination of which helps synchronize shorter duration rates with long term yields while balancing liquidity in the system.”
MUMBAI: Mint Road Wednesday moved closer in its policy articulation to Threadneedle Street or the Eccles Building, unwrapping a bespoke version of quantitative easing (QE) that admittedly has shades of a coordinated global central bank response to the unprecedented financial crisis – but with pronouncedly desi accents.
North Block’s personal banker announced a bond purchase calendar and variable rate reverse repo (VRRR) auctions to harmonise
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Credit: economictimes.indiatimes.com
