A spike in yields in November has been followed by a big, $14 billion RBI bond-purchase programme.The RBI is thus in the weird position of publicly rebuking the government about its deficits while being the guarantor that they are financed.
The surprise interest rate rise today, September 20th, by the Reserve Bank of India (RBI) should shift the mood back to realism and return attention to India's inflation problem.
Mr Rajan is a critic of cronyism but he will have his work cut out to prevent licences going to well-connected tycoons.Mr Rajan is no administrator but will also have to reform the RBI.
The Reserve Bank of India (RBI), India's central bank, and the government have been praying that it will slow.
And second, is there speculation taking place that makes markets overreact?"Raghu recipeThat calibrated stance seems likely to continue now that Mr Rajan is at the RBI.
As he prepares to succeed Duvvuri Subbarao at the helm of the Reserve Bank of India (RBI) in September that caution seems prescient.
"Does history repeat itself?" asked Duvvuri Subbarao, the outgoing head of the Reserve Bank of India (RBI).
You can tell Mr Rajan is worried that India is in a tight spot because he answers to a decimal place without checking his BlackBerry or computer.On September 4th he became the 23rd governor of the Reserve Bank of India (RBI), perhaps the country's best institution.
He supports the plaintive call by Raghu Rajan, governor of the Reserve Bank of India (RBI), for more co-operation between central banks.The dollar is imperial; the Fed is parochial.
An important proposal was announced on March 18th not in parliament but in Mumbai at a humdrum book launch of the third volume of a history of the Reserve Bank of India (RBI), the central bank.
The Reserve Bank of India (RBI), which has raised interest rates twice this year, still has work to do.The pace of rate hikes will be governed by two imponderables: the monsoon, which is now sweeping up the coastal state of Kerala, and the squalls on world financial markets, which have swept outwards from Greece.
