Central banks, govts have no choice but to act

.....I think we are at a stage where central banks, governments, including India by the way, have absolutely no choice but to act. Actually, to be honest I called 5.5% last week, which people at that time thought that maybe this guy has sort of lost it a little bit... What that actually means is that RBI, which is caught between a rock and a hard place, will act and it will sort of err on the side of ensuring that growth doesn’t completely go off the cliff, and in a sense it will be a mini crisis for India where Delhi will have to act as well........

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