Rajan offers solution to global policy spillovers

Raghuram Rajan. Photo: Vishal Kullarwar

Reserve Bank of India (RBI) governor Raghuram Rajan has outlined a plan designed to end the destabilising global effects of certain central bank policies.

Rajan has long been a vocal opponent of policies that send damaging shockwaves across borders, particularly quantitative easing and currency interventions, which, he argues, bring limited domestic benefits and force foreigners to bear heavy costs.

Having reiterated this argument in remarks to an International Monetary Fund conference in New

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