Consider the following statement:
Statement – I – in the post-pandemic recent past, many Central Banks worldwide had carried out interest rate hikes.
Statement – II – Central Banks generally assume that they have the ability to counteract the rising consumer prices via monetary policy means.
Which one of the following is correct in respect of the above statements?
a. Both Statement I and Statement II are correct and Statement II is the correct explanation for Statement I
b. Both Statement I and Statement II are correct and Statement II is not the correct explanation for Statement I
c. Statement I is correct but Statement II is incorrect
d. Statement I is incorrect but Statement II is correct