{"id":9629,"date":"2021-10-12T15:18:00","date_gmt":"2021-10-12T09:48:00","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=9629"},"modified":"2021-10-12T15:18:00","modified_gmt":"2021-10-12T09:48:00","slug":"the-hindu-editorial-vocabulary-oct-12-2021-day-158","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-oct-12-2021-day-158\/","title":{"rendered":"The Hindu Editorial Vocabulary\u2013 Oct 12, 2021; Day 158"},"content":{"rendered":"\n
Difficult Word\/ Phrase<\/td>Contextual Sense<\/td><\/tr>
Rein in <\/td>to limit or control (someone or something)<\/td><\/tr>
Unanimously <\/td>without dissent<\/td><\/tr>
Benchmark interest rate <\/td>Also called base interest rate, it is the minimum interest rate investors will demand for investing in a non-Treasury security<\/td><\/tr>
Demur <\/td>to politely refuse to accept a request or suggestion<\/td><\/tr>
Posit <\/td>to suggest (something, such as an idea or theory) especially in order to start a discussion<\/td><\/tr>
Mixed bag <\/td>a diverse assortment of things<\/td><\/tr>
Ameliorate <\/td>To make better<\/td><\/tr>
Calibrate <\/td>carefully assessed, set, or adjusted<\/td><\/tr>
Concede <\/td>Admit (to a wrongdoing)<\/td><\/tr>
Wind down <\/td>to gradually end<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\"SBI_PO_Free<\/a><\/figure>\n\n\n\n

Limits to accommodation: on RBI’s monetary policy<\/h2>\n\n\n\n

RBI\u2019s failure to rein in (to limit or control (someone or something))<\/strong> inflation will hurt savers and risk derailing a consumption-led revival<\/h3>\n\n\n\n

The RBI\u2019s latest monetary policy statement and accompanying actions reflect the dilemma confronting monetary authorities. While the RBI\u2019s Monetary Policy Committee voted unanimously (without dissent) <\/strong>to keep benchmark interest rates (Also called base interest rate, it is the minimum interest rate investors will demand for investing in a non-Treasury security)<\/strong> unchanged as part of its efforts to support growth as the economy recovers, one of the six members on the MPC demurred (to politely refuse to accept a request or suggestion) <\/strong>yet again and voted against continuing with an accommodative stance for \u2018as long as necessary\u2019. Prof. Jayanth Varma had at the last meeting in August flagged the risks that prolonged monetary accommodation posed to the inflation outlook by \u2018stimulating asset price inflation\u2019 even as he posited (to suggest (something, such as an idea or theory) especially in order to start a discussion) <\/strong>that its impact in \u2018mitigating the distress in the economy\u2019 was arguably far more marginal. The MPC\u2019s own current inflation outlook is a mixed bag (a diverse assortment of things)<\/strong>. The projection for average inflation for the full fiscal year has been cut by 40 basis points to 5.3% even as the committee stresses that with core inflation \u2018persisting at an elevated level\u2019, the Centre and States would need to further ameliorate (To make better) <\/strong>supply side and cost pressures, including through calibrated (carefully assessed, set, or adjusted) <\/strong>cuts in indirect taxes on petrol and diesel so as to address the issue of \u2018very high\u2019 pump prices. In an acknowledgment of the difficulty it faces in containing price pressures even as it keeps interest rates at growth-supportive lows, the monetary panel reiterated its plea for fiscal authorities to step in and help contain inflationary pressures, especially the pass-through impact of elevated transportation costs.<\/p>\n\n\n\n

Governor Shaktikanta Das tacitly conceded (Admit (to a wrongdoing)) <\/strong>that the time had come to wind down (to gradually end)<\/strong> the pandemic-era liquidity support as he announced the suspension of the G-SAP bond buying programme and simultaneously outlined measures to drain out surplus liquidity from the banking system. He cited the seemingly \u2018strengthening\u2019 growth impulses to justify the RBI\u2019s decision. Here again, the MPC\u2019s prognostication on growth is filled with uncertainties and caveats. Contact intensive services, which contribute about two-fifths to economic output and were among the worst hit by the COVID restrictions, still considerably lag their pre-pandemic levels; the manufacturing sector is still nowhere near supporting a rebound in investment demand; and, most crucially, the external environment that has so far been a major tailwind \u2014 through capital inflows and the demand for the country\u2019s goods and services \u2014 is turning more uncertain. With growing signs that some major advanced economies are gearing for an imminent normalisation of monetary policy, the elbow room for the RBI to stay accommodative is narrowing sharply. As Prof. Varma had noted in his dissent, monetary authorities face the danger of failing to fulfil the MPC\u2019s primary mandate of anchoring inflation expectations firmly around the 4% target. A failure that would hurt savers the most and risks derailing a consumption-led revival.<\/p>\n\n\n\n

\"SBI_PO_Free<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

Keep your vocabulary updated with the help of our articles where we highlight 10 difficult words\/ phrases and explain their contextual sense.<\/p>\n","protected":false},"author":3,"featured_media":9630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[11,25,15,17,2,49,47],"tags":[69],"class_list":["post-9629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ibps-clerk","category-ibps-po","category-ibps-rrb-clerk","category-niacl-ao","category-rbi-assistant","category-sbi-po","category-vocabulary","tag-editorials-difficult-words-2"],"yoast_head":"\nThe Hindu Editorial Vocabulary\u2013 Oct 12, 2021; Day 158 - Practicemock<\/title>\n<meta name=\"description\" content=\"Keep your vocabulary updated with the help of our articles where we highlight 10 difficult words\/ phrases and explain their contextual sense.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-oct-12-2021-day-158\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Hindu Editorial Vocabulary\u2013 Oct 12, 2021; 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