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India Wields Its Monetary Policy Axe… But Can The Country Stave Off Recession?
India’s Central Bank In Recession-Busting Model
With the Reserve Bank of India’s surprise interest rate cut on Monday, this may actually be the first time ever that India is ahead of the monetary policy curve.
That’s according to Karim Rahemtulla, speaking in the wake of the Reserve Bank of India cutting its overnight lending rate from 9% to 8%, as the country makes a strong move to avert a recession.
The “surprise move” came days before a regularly scheduled meeting of its policy board and after the central bank reduced the cash reserve ratio by 2.5 percentage points to 6.5% – retroactive to October 11.
The…
27Oct2008 | Smart Profits Report | Comments Off | Continued
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