MUMBAI: Reserve Bank of India Deputy Governor KC Chakrabarty on Friday said interest rates in India were not too high to impact growth, throwing cold water on hopes of central bank action to revive a sputtering economy. This comes only days after fellow Deputy Governor Subir Gokarn raised expectations of a rate cut by saying moderate core inflation and softening global crude prices offered the central bank room to lower policy rates..............
1 comment:
The game those who are responsible for policy formulation are playing takes one back to the age-old transactional analysis, with PAC. Kaushik Basu and team can take the 'Parent' position, RBI the 'Adult' slot and Aam Admi the 'Child' position. Between the 'critical parent' and 'the crying child' RBI Governor gets jammed.To add to his embarrassment, his own team members come to open and share their wisdom(Gokarn) and ignorance with public.Top people within the organisation should better use internal forums to share their views and avoid airing divergent views in public on the eve of Governor's deliberations preceding policy announcements.
Post a Comment