Too soon for central bank rewards

It’s too soon for India’s central bank to reward the government. Senior officials in New Delhi are hoping for a more benevolent monetary policy. Money markets, too, are increasingly expecting lower future interest rates. But by reducing rates at the next meeting on October 30, the central bank in Mumbai would be rewarding the government a little too soon for what have undoubtedly been some of the more politically courageous decisions it has taken in the last eight years.

Read Full Story>>