D. Subbarao | The inflation warrior

....Subbarao, the inflation warrior, has stuck to his guns. Indeed, he cut the policy rate by a quarter percentage point to 7.25%—a level last seen in May 2011—but laced his action with a caution that there is little space for monetary easing. He even warned that if the situation warrants—meaning, if inflation and the current account deficit rise—there could be a reversal of the policy stance. That sent bond yields rising, the local currency slipping against the dollar, and equities, particularly bank stocks, falling...........

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