The Hindu Editorial (Reassuring resolve) – Aug 10, 2024

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The Hindu Editorial (Reassuring resolve) – Aug 10, 2024:

reassuring (adjective) – optimistic, favourable, encouraging, promising, hopeful.
resolve (noun) – determination, willpower, firmness, resolution, courage.
The monetary policy committee (MPC) (noun) – it is a six-member panel that is expected to bring “value and transparency” to rate-setting decisions. It will feature three members from the RBI — the Governor, a Deputy Governor and another official — and three independent members to be selected by the Government. The MPC will meet four times a year to decide on monetary policy by a majority vote.
monetary policy (noun) – monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as interest rates, money supply, and availability of credit with a view to achieving the ultimate objective of economic policy mentioned in the Reserve Bank of India Act, 1934.
tenuous (adjective) – slight, insubstantial, negligible, weak/shaky; doubtful, dubious, questionable, vague, unspecific, indefinite.
Retail or Consumer Price Index (CPI) inflation (noun) – The change in the price index of the basket of consumer goods and services over a period of time is referred to as CPI-based inflation or retail inflation.
unchecked (adjective) – unrestrained, unconstrained, uncontrolled, unrestricted, unbridled, uncontainable, rampant, runaway.
benchmark (noun) – standard, base/basis, point of reference, criterion, ideal.
benchmark interest rate (noun) – a minimal/minimum interest rate set and published by commercial banks for accumulating interest on different credit types.
stubbornly (adverb) – persistently, firmly, inflexibly.
undermine (verb) – weaken, subvert, sabotage, damage.
lay out (phrase verb) – formulate, frame, draw up, work out.
rationale (noun) – reason, justification, cause, grounds, explanation, reasoning.
emphatic (adjective) – certain, clear, decided, firm, determined, assertive, insistent, outright, one hundred per cent, categorical, unequivocal, unambiguous
room (noun) – scope, chance, leeway, freedom, latitude, opportunity (for something to happen).
complacency (noun) – carelessness, laziness, laxity; self-satisfaction, smugness, self-regard.
given (preposition) – considering, taking into account, bearing in mind.
persistently (adverb) – continuously, constantly, steadily, steadfastly, invariably.
elevated (adjective) – increased, raised.
Inflationary/price pressures (noun) – the demand and supply-side pressures that can cause a rise in the general price level; cost-push inflation, hot-economy, deficit finance.
pose (verb) – constitute, present, create, cause (a problem or danger or risk).
household (noun) – family, house.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
expectation (noun) – prediction, indication, projection, prognosis, speculation, forecast, calculation (of future events or trends).
broader superlative adjective of broad (adjective) – comprehensive, extensive, wide, wide-ranging, broad-ranging.
credibility (noun) – trustworthiness, reliability, integrity.
stress (verb) – highlight, emphasize, underline, underscore, call/draw attention to.
disinflation (noun) – decrease in the rate of inflation.
quarter (noun) – a period of three months (considered as one-fourth of a year).
momentum (noun) – the increase in the rate of growth of something; strength, impetus.
point to (phrasal verb) – indicate, suggest, signal, signify, denote, reveal.
sizeable (adjective) – considerable, substantial, significant, appreciable.
month-on-month (adjective) – used to compare data for one month with that in previous months.
cite (verb) – invoke, mention, refer to, point to, adduce, turn to, resort to.
Department of Consumer Affairs (noun) – Department of Consumer Affairs is one of the two Departments under the Ministry of Consumer Affairs, Food & Public Distribution. It was constituted as a separate Department in June 1997 as it was considered necessary to have a separate Department to give a fillip to the nascent consumer movement in the country.
surge (verb) – increase, rise, escalate.
sequentially (adverb) – in succession, successively, continuously.
weight (noun) – larger number, bulk, lion’s share.
Consumer Price Index (CPI) (noun) – The CPI looks at the basket of consumer goods and services and it measures the change in price of this basket over a period of time. To put it simply, the CPI monitors retail prices at a certain level for a particular commodity.
Wholesale Price Index (WPI) (noun) – The WPI looks at a basket of wholesale goods (goods purchased in large quantities by businesses directly from manufacturers with the intent of reselling them to retailers). the WPI tracks prices at the factory gate before the retail level.
could not afford/cannot afford/can ill afford (phrase) – if you cannot afford to do something, you must prevent it from happening because it would be embarrassing and cause problems (if it happens).
overlook (verb) – reject, ignore, neglect, discount, disregard, leave out, dismiss.
headline inflation (noun) – it is a measure of the total inflation within an economy, including commodities such as food and energy prices.
far more (phrase) – much more.
explicitly (adverb) – absolutely, directly, clearly, unambiguously, conclusively, unconditionally, unequivocally, unqualifiedly, categorically, outright.
Economic Survey (noun) – Economic Survey, being presented in the Parliament ahead of the Union Budget, is the Ministry of Finance’s flagship document. The Economic Survey details information about the Indian economy over the past year. The Economic Survey also offers glimpses into the current state of the economy, and occasional insights into the economic outlook. Although the Constitution does not bind (impose a legal obligation on) the government to present the Economic Survey, over the years, it has become common practice for every government to present the Economic Survey before the Union Budget.
delink (verb) – separate, segregate, isolate, dissociate.
framework (noun) – structure, system, composition.
make no/little sense (phrase) – If something makes no/little sense it means it is illogical, nonsensical, and unreasoned.
hold (verb) – continue, carry on without changing; remain unchanged.
stance (noun) – position, standpoint, perspective, approach.
withdrawal of accommodation (noun) – An accommodative stance means the central bank is prepared to expand the money supply to boost economic growth. Withdrawal of accommodation means reducing the money supply in the system which will rein in inflation further.
monetary accommodation (noun) – monetary accommodation is monetary policy that is well accommodative. Monetary accommodation is when the central bank keeps interest rates low. Low interest rates encourage borrowing and investment, which theoretically spur employment and economic growth (but also inflation). In India, the central bank-the Reserve Bank of India, i.e. “The RBI”-is the one that controls whether monetary policy is accommodative or not.
align (verb) – place, position, set, situate.
projection (noun) – prediction, indication, forecast, prognosis, speculation, calculation (of future events or trends).
basis point (BPS) (noun) – a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. One basis point is equivalent to 0.01% (1/100th of a percent). Used for measuring change in interest rate/yield.
pace (noun) – rate, speed.
project (verb) – forecast, predict, estimate, calculate.
posit (verb) – put forward, propose, postulate, suppose, suggest.
fiscal (adjective) – financial, monetary, budgetary.
forecast (noun) – prediction, indication, projection, prognosis, speculation, calculation (of future events or trends).
outlook (noun) – prospects, chances, possibilities, expectations, future.
Centre for Monitoring Indian Economy (CMIE) (noun) – a leading business information company. It was established in 1976, primarily as an independent think tank. (Think tank is a panel of experts who provide advice and ideas on political, social or economic issues).
forecast (verb) – protect, predict, estimate, calculate.
sustain (verb) – continue, carry on, keep up, maintain, bolster up.
core inflation (noun) – it is a measure of the total inflation within an economy, excluding commodities such as food and energy prices (which change frequently).
bottom out (phrasal verb) – to reach a lowest or worst point (and from there the condition will only improve).
flag (verb) – indicate, identify, point out; draw attention to.
spillover (noun) – consequence, outcome, repercussion (an unexpected one).
hearteningly (adverb) – encouragingly, hopefully, favourably/promisingly.
reiterate (verb) – say something again; say again, repeat, retell, restate, iterate, recapitulate
truism (noun) – cliché, truism, overworked phrase/opinion; predictable thing.
enduring (adjective) – lasting, long-lasting, continuing; long-standing.
price stability (noun) – no (drastic) change in the price of goods and services in an economy over a period of time. It implies avoiding both prolonged inflation and deflation.
at best (phrase) – under the most favorable circumstances/situations.