RBI and IMF clash over pace of tightening
The International Monetary Fund (IMF) is urging the Reserve Bank of India (RBI) to "continue raising policy rates in the coming months", despite governor Raghuram Rajan advocating a patient approach.
An IMF staff report released today praised the central bank's progress towards an inflation-targeting regime, but called for a tighter monetary policy stance in the immediate future.
"The ingrained nature of inflation and inflation expectations mean that reducing inflation – even over a protracted
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