Rajan urges India to ‘stay the course’ on inflation

AFP, MUMBAI: India’s outgoing central bank governor Raghuram Rajan urged his successor on Monday to “stay the course” on pushing down inflation, in his first comments since he announced he was stepping down.
The popular Reserve Bank of India chief said in a statement released on Saturday he would be returning to academia when his term as RBI governor finishes in September, ending months of intense speculation over his future. Rajan, who famously predicted the 2008 global financial crisis, has been widely credited with bringing stability to India’s economy since taking over the reins of the RBI in September 2013.
He has brought inflation down from double-digit levels to 5.8 per cent currently, and on Monday urged the RBI and India’s government to continue to focus on keeping it under control. “We must not get diverted as we build the institutions necessary to secure a low-inflation future, especially because we seem to be making headway,” Rajan said during a speech in Mumbai.

Rajan urges India to stay the course on inflation

AFP, MUMBAI: Indias outgoing central bank governor Raghuram Rajan urged his successor on Monday to stay the course on pushing down inflation, in his first comments since he announced he was stepping down. The popular Reserve Bank of India chief said in a statement released on Saturday he would be returning to academia when his term as RBI governor finishes in September, ending months of intense speculation over his future. Rajan, who famously predicted the 2008 global financial crisis, has been widely credited with bringing stability to Indias economy since taking over the reins of the RBI in September 2013. He has brought inflation down from double-digit levels to 5.8 per cent currently, and on Monday urged the RBI and Indias government to continue to focus on keeping it under control. We must not get diverted as we build the institutions necessary to secure a low-inflation future, especially because we seem to be making headway, Rajan said during a speech in Mumbai.