At present cryptos have little value other than as speculative device: Raghuram Rajan

Raghuram Rajan: I do not want to enter a debate which probably is already fraught. Let me just step back from India and say more generally the ultimate objective of monetary policy is to tighten financial conditions. The central banks have been acting on using a variety of tools including not just the policy rate but also various liquidity management tools. I think about the central bank

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