rbi seen more stable now than in 2013
Last Updated : GMT 08:31:41
Arab Today, arab today
Arab Today, arab today

RBI seen more stable now than in 2013

Arab Today, arab today

Arab Today, arab today RBI seen more stable now than in 2013

RBI seen more stable now than in 2013
Mumbai/London - Arab Today

The reappointment, or not, of India’s central bank head Raghuram Rajan has caused enough of a stir to be known locally as “Rexit,” a play on Britain’s EU referendum, reflecting the esteem in which the governor is held at home and abroad.
Were Rajan to leave when his tenure ends in September, Indian markets are expected to fall to reflect his standing, but some foreign fund managers are of the view that, even if he does go, it would not be the end of the world.
The main reason is that Rajan would leave behind policies that have altered the way the central bank works, namely the adoption of an inflation target and plans to create a monetary policy committee to set interest rates.
Both reduce the discretion the Reserve Bank of India (RBI) governor has historically enjoyed in setting policy, making the institution more consensus-based and bringing it closer into line with other big central banks like the US Federal Reserve.
“The short answer is that investors, especially fixed income investors, will not be happy if he leaves, and it will surely trigger some sales,” said Kieran Curtis, investment director of emerging markets debt at Standard Life Investments in London.
“I think there is a more nuanced view, though, and unless he is replaced by a polar opposite character it may not matter that much,” he added.
Rajan declined to comment on speculation over his future, telling reporters on Tuesday: “You will know when there is news.” He left rates unchanged, as was widely expected, after the latest policy review.
A two-year extension at the helm of the RBI still looks a real possibility.
Reuters reported last week that, with Prime Minister Narendra Modi behind Rajan, the central bank chief was more likely to be reappointed, despite considerable opposition to him within the ruling Bharatiya Janata Party (BJP).
Rajan may not want the job, and, when a regional newspaper cited sources close to the governor saying he could walk away, markets were briefly spooked.
Rajan’s appointment in September 2013, as India faced its worst currency crisis in over two decades, and the election of Modi in May 2014, have helped turn India into an emerging market darling at a time when countries like Brazil and South Africa are struggling.
India has attracted $62 billion in foreign portfolio investments since Rajan’s appointment, including a yearly record of $42 billion in 2014, and the proportion of overseas ownership in debt and equity markets has hit record highs.
Rajan moved quickly to calm markets by raising short-term interest rates and pushing hard to shore up foreign exchange reserves, which hit a record $363 billion in recent weeks before dipping somewhat.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rbi seen more stable now than in 2013 rbi seen more stable now than in 2013

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

rbi seen more stable now than in 2013 rbi seen more stable now than in 2013

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday