had been tightening
-había estado apretando
Past perfect progressiveconjugation oftighten.There are other translations for this conjugation.

tighten

Even India's central bank, which had been tightening monetary policy for two years, has reduced both its benchmark rates and the reserve requirement ratio to inject liquidity into the banking system.
Hasta el banco central de la India, que había endurecido su política monetaria desde hace dos años, redujo el coeficiente de reservas obligatorias y luego su tipo director con el fin de inyectar liquidez en el sistema.
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