Forecasting inflation for monetary policy

The Economic Times

Forecasting inflation for monetary policy
03,Oct,2020

10 words from this day's editorials with Hindi meaning

Read the words first, then the editorial: you will meet them in the text and remember them. Tap a word for its dictionary page.

Lurk (verb)

To wait somewhere secretly, especially because you are going to do something bad or illegal. छिपे रह कर इंतज़ार करना

Synonyms: Hide, Loiter, Take Cover, Keep out of Sight

Example: Eyes lurked in the shadows waiting for the right moment to strike.

Ambivalent (adjective)

Having or showing both positive and negative feelings about somebody/something. द्वैधवृत्तिक

Synonyms: Equivocal, Doubtful, Undecided, Hesitant

Antonyms: Decided, Definite, Settled

Example: She seems to feel ambivalent about her new job.

Shrill (adjective)

Very high and loud, in an unpleasant way. कल्पित

Synonyms: Piercing, Sharp, High-pitched, Screechy, Strident

Antonyms: Low, Soft, Mild, Calm

Example: The shrill cries of children broke the silence.

Intriguing (adjective)

Very interesting because of being unusual or not having an obvious answer. लुभावना

Synonyms: Fascinating, Interesting, Absorbing, Enthralling

Antonyms: Boring, Uninteresting, Tedious

Example: These discoveries raise intriguing questions.

Overarching (adjective)

Comprehensive or all-embracing. व्यापक

Synonyms: Inclusive, Overall, Through-out, Complete

Example: The overarching principle at work is that everyone contributes to the common need.

Brazen (adjective)

Bold and without shame. निर्भीक

Synonyms: Audacious, Unabashed, Impudent

Antonyms: Timid, Meek, Modest

Example: She had become brazen about the whole affair.

Conflate (verb)

To put two or more things together to make one new thing. मिलाना

Synonyms: Combine, Amalgamate, Mix

Antonyms: Separate, Divide, Split

Example: The issues of race and class are separate and should not be conflated.

Faltering (adjective)

Losing strength or momentum. डगमगाता

Synonyms: Wavering, Vacillating

Antonyms: Firm, Determined

Example: He is desperate for some issue that will rescue his faltering campaign.

Commensurate (adjective)

Corresponding in size or degree. आनुपातिक

Synonyms: Proportionate, Comparable, Equal

Antonyms: Disproportionate, Incommensurate, Inappropriate

Example: Salary will be commensurate with experience.

Impede (verb)

Delay or prevent (someone or something) by obstructing them. बाधा डालना

Synonyms: Hinder, Obstruct, Hamper, Retard, Hold back

Antonyms: Facilitate, Assist, Aid, Promote

Example: A number of practical difficulties impeded the process.

The editorial

Source: The Economic Times · 3 Oct 2020

A recent Reserve Bank of India (RBI) working paper on inflation forecasting suggests better econometric modelling, to better anticipate rising prices. India has, indeed, moved to a formal inflation-targeting framework since 2016, and inflation forecasts now assume a greater role in the conduct and formulation of monetary policy. Food prices have a disproportionate impact on headline inflation, and the way ahead is to speedily bridge the infrastructure deficit in agriculture, and fast-forward attendant market and price reforms.

The fact is that ‘accurate, reliable and unbiased’ forecasts are key inputs for the central bank to anchor inflationary expectations, to meet its policy objectives. Yet, RBI often seems behind the curve when it comes to its inflation forecasts; the lockdowns appear to have compounded supply shocks, and which, in turn, have led to higher consumer prices.

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Quick quiz: 5 questions on these words

Synonyms and antonyms, the way exams ask them. Answers show as you tap.

1. Synonym of Commensurate

2. Antonym of Brazen

3. Synonym of Shrill

4. Antonym of Impede

5. Synonym of Overarching

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