Banks, financial markets strong enough to withstand extreme volatility: Das

Going forward, our monetary policy will be watchful, nimble footed and calibrated, says RBI Governor

Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures.

Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy.

He also warned of the pains that such monetary policy actions would create on growth and jobs. In the previous