Pity RBI's monetary policy committee. For three days, starting this Wednesday, it will have to grapple with the usual host of unknowns endemic to macroeconomics. And then some more. As an MPC member put it so eloquently a few months ago when things were much less uncertain, its position is like that of a man sitting on a chair in the middle of an oil spill, not knowing where to put his foot down for fear of falling.
Things have only got worse. Apart from chaos on the tariff front, and uncertainty of not knowing when the war in West Asia will end - and, by extension, when oil supplies through the Strait of Hormuz will resume - MPC has to contend with two new unknowns:
