Interviews
RBI Governor rules out financial crisis
27 Aug '15
4 min read
"Once interest rates are at zero it's hard to crank up new tools. Central banks have tried, they've tried very hard - negative interest rates, low for long, quantitative easing, we've done a whole bunch of things like that. The question is - at what point do you, through additional measures, do more harm than good?"
A day before the interview to the BBC, Rajan stood his ground at FIBAC 2015, against a rate cut, reiterating that the RBI is not a “cheerleader” for the economy. “Rate cuts should not be seen as goodies that the RBI gives out stingily after much public pleading. Instead, what is important is sustained low inflation, something the Prime Minister emphasized in his Independence Day speech, and rate cuts are a natural consequence that the RBI has no hesitancy in delivering,” he said in his speech.(SH)
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