A policy is a deliberate system of guidelines or principles that govern decisions and actions within an organization, institution, or government. It serves as a framework for addressing specific issues, achieving objectives, and ensuring consistency in operations and behavior. Policies are often formulated to provide direction, establish standards, and define responsibilities and procedures. They can cover various domains, such as public health, education, security, and business practices, and are intended to guide actions towards desired outcomes while managing risks and uncertainties. Policies are usually documented and can be reviewed and updated as necessary to reflect changing circumstances or priorities.
The Reserve Bank is achieving remarkable success in controlling inflation, and it's time for a strategic pivot. With the economy stabilizing, experts believe the bank should boldly consider slashing the…