The Hindu Editorial Vocabulary 10th August 2024

he Hindu Editorial Vocabulary 10th August 2024 is an effective tool for regularly learning new words and their contextual meanings. Candidates can get this resource for free to improve their vocabulary knowledge preparing for government exams.

Hindu Editorial Vocab On the RBI’s Monetary Policy Committee’s move

The RBI’s Monetary Policy Committee (MPC) has for a ninth straight meeting chosen to keep benchmark interest rates unchanged as it continues to battle retail inflation that has stubbornly (in a way that shows you are determined to do what you want and refuse to do anything else) stayed above its medium-term target of 4% for 57 months and is beginning to undermine consumer confidence. Laying out the rationale, RBI Governor Shaktikanta Das was emphatic (If someone or something that they do or say is emphatic, it is strong and clear, without any possibility for doubt) that there was no room for complacency given the risks that persistently elevated food price pressures posed to households’ inflation expectations (the feeling that good things are going to happen in the future) and broader monetary policy credibility. Elevated food prices, he stressed, had not only slowed disinflation (a situation in which a country’s prices go down, or do not go up as quickly as before) in the April-June quarter but had also extended their momentum (the force that keeps an object moving) into July with high frequency food price data pointing to sizeable month-on-month increases in key vegetable prices. Citing Department (a part of an organization such as a school, business, or government that deals with a particular area of study or work) of Consumer Affairs data, he said tomato prices had surged 62% sequentially, while onion had become almost 23% costlier than in June and potato prices had increased 18%. Food prices, with a weight of about 46% in the overall Consumer Price Index, could not afford to be overlooked, not just for their impact on headline inflation but far more significantly because consumers related the most to the impact food prices had on monthly household budgets. He indicated, without explicitly (in a way that is clear and exact) referencing it, that a suggestion in the Economic Survey urging policymakers to consider delinking food prices from the inflation targeting framework made little sense in the circumstances.

The MPC, which voted by a 4-2 majority to hold interest rates and keep the policy stance focused on the withdrawal of accommodation (a place to stay or live) to ensure that inflation aligns to the target, also raised its projection for headline retail inflation in the July-September quarter to 4.4%, 60 basis points higher than the 3.8% pace projected in June. The rate panel also posited slightly faster inflation in the third fiscal quarter than it had forecast previously, lifting the projection (a calculation or guess about the future based on information that you have) by 10 basis points to 4.7%, in a clear sign that the near-term inflation outlook appears less reassuring than it did just two months ago. And while Mr. Das noted that, in June, vegetable prices had contributed about 35% to headline inflation, the Centre for Monitoring Indian Economy, in an analysis, forecast price pressures in vegetables to ‘sustain well into the festive season through till early November’, adding pressure on retail headline inflation. Core inflation may also have bottomed (having a base or lowest point of the specified kind) out according to the MPC, which flagged the risks of spillover from food prices, as well as the impact mobile tariff revisions may have on broader non-food inflation. Policymakers hearteningly reiterated the truism that without ensuring enduring price stability, growth may at best be tenuous.

Hindu Vocab Wordlist 10th August 2024

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Stubbornly: In a way that shows you are determined to do what you want and refuse to do anything else

Emphatic: If someone or something that they do or say is emphatic, it is strong and clear, without any possibility for doubt

Expectations: The feeling that good things are going to happen in the future

Disinflation: A situation in which a country’s prices go down, or do not go up as quickly as before

Momentum: The force that keeps an object moving

Department: A part of an organization such as a school, business, or government that deals with a particular area of study or work.

Explicitly: In a way that is clear and exact

Accommodation: a place to stay or live

Projection: A calculation or guess about the future based on information that you have

Bottomed: having a base or lowest point of the specified kind

Hindu Vocab Master 10th August with Synonyms & Antonyms

Know synonyms and antonyms of difficult words in Hindu Vocab Master on 10th August 2024.

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