RBI’s Rajan says interest rate rise wasn’t due to global contagion

Author: Mike Paterson | Category: Central Banks
  • India much better prepared than last time for forex outflows
  • need to remain vigilant of emerging market turmoil and not over react to short term events
  • RBI will act to reduce undue volatility

Yesterday the RBI hiked rates to 8% from 7.75% in an unexpected move