Speaking to the media after the customary post-Budget RBI board meeting addressed by the finance minister, Das said the global economic outlook does not lookas grim as it did about six months ago.“The talk ofa deep recession in many countries including advanced countries... that is behind us. Now the talk around the world is either the softer recession or just a global slowdown. Therefore, the risks are evenlybalanced.We have towait and see howit plays out,’he said.
The real interest rates have just moved into the positive territory after being in the negative for three years, Das said.
"The continuation of negative interest rates for too long can create instability in the financial system. There are a lot of risks (from prolonged negative rates) which have to be avoided," he said.
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