Tuesday, October 1, 2013

Decoding Governor Rajan

.......The confusion is understandable, given that the RBI revised two policy interest rates in opposite directions. To be fair, the policy statement and RBI Governor Raghuram Rajan's post-policy comments made it clear what the central bank was attempting. But any conclusion limited to a single word - such as "eased" or "tightened" - that would normally be associated with the decision of any central bank was elusive...........

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