Rajan turns attention to 2016 inflation target
Rajan discusses declaring some borrowers ‘non-co-operative’
The Reserve Bank of India (RBI) will now gear its monetary policy towards achieving 6% inflation by January 2016, with its governor Raghuram Rajan "confident" the central bank is on course to achieve the earlier stages of its ‘glide path'.
Today, the RBI held its key interest rate at 8%, after annual CPI inflation fell to 7.8% in August, from 7.96% in July. It is on track to come in at – or below – the RBI's near-term target of 8% in January 2015.
Rajan said there is still "a fair amount that
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