As India’s economic climate becomes more complicated, so have the messages from monetary policy makers.
On Monday, Das invoked Voltaire in a speech on the economy. “I am not saying we maintain a Panglossian countenance and smile away every difficulty,” he said. The dictionary says a Panglossian way of life is characterized by one of extreme optimism.
The expression refers to Professor Pangloss, a character in Candide, ou l’Optimisme or Candide: Optimism – a satire written by the French philosopher Voltaire in 1759.
Central bank watchers are already battling to predict policy makers’ next move after the MPC cut interest rates by an unconventional 35 basis points.
Ghate, an external member of the committee who is an academic, voted for a more conventional 25 basis-point reduction at the last policy meeting, and sounded a note of caution about the recent economic slowdown.