A former Governor of the Reserve Bank of India (RBI) once told me that in a “moment of crisis the central bank can’t be seen to be doing nothing” even if “do nothing” might be the best strategy to follow. This might well be the spur behind the RBI’s recent defence of the rupee.................
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Wednesday, August 7, 2013
RBI is behaving like a football goalkeeper
A former Governor of the Reserve Bank of India (RBI) once told me that in a “moment of crisis the central bank can’t be seen to be doing nothing” even if “do nothing” might be the best strategy to follow. This might well be the spur behind the RBI’s recent defence of the rupee.................
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