Monetary Policy Committee(MPC)
The Monetary Policy Committee(MPC) determines the benchmark policy rate (repo rate) to restrain inflation within the particular target level(4% +/-2%).
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Inflation
Inflation is the rate of increase in prices over a given period of time. It means your money won’t buy as much today as you could yesterday.
Free Trade Agreement (FTA)
A Free trade Agreement (FTA) is an agreement related to trade in goods and services, and protections for investors and IPRs.
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Comprehensive Economic Partnership Agreement (Cepa)
Comprehensive Economic Partnership Agreement (CEPA) covers areas like services, investment, IPRs, government procurement and regulatory aspects of trade.
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Latest MPC Review
In the latest MPC review concluded on 6th December, it’s decided to keep the repo rate unchanged but reduced the CRR by 50bps
Unemployment
Unemployment is a situation in which individuals are ready & willing to work at the prevailing rate of wages but are not able to get work.
NAIRU – Non Accelerating Inflation Rate of Unemployment
NAIRU is the lowest unemployment rate that can be sustained without causing inflation to rise. It’s a measure of the economy’s “spare capacity”
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Phillips Curve
Phillips Curve states that inflation and unemployment have an inverse relationship; higher inflation is associated with lower unemployment and vice versa.
Rural Poverty
Rural poverty, is characterised by various factors including poor living conditions, heavy reliance on agriculture, landlessness and limited access to basic services.
Multidimensional Poverty Index(MPI)
Global Multidimensional Poverty Index(MPI) was developed by the OPHI and the UNDP and uses different factors to determine poverty beyond income.
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