Logo
Logo

Hard money: It’s less Subbarao vs FM, more PMO vs Sonia

What’s really going on in monetary policy? Who is calling the shots, and why? Why is the Reserve Bank of India (RBI) still hawkish when the economy is dramatically slowing down and industrial growth has just crashed to negative territory in October? The RBI’s decision to stick to its hard monetary stance – no change in tight money or rates barring some lip-service to slowing growth – has angered some economists who think the central bank is either being unduly influenced by hard-boiled monetarists or is acting like a law unto itself.

Read Full Story>>