Raghuram Rajan hints at softer rate regime this year

RBI governor Raghuram Rajan quoted his deputy Urjit Patel to point out that the market should not try to categorize the policy as "hawkish" or "dovish". "We are neither hawks nor doves but owls and we are vigilant when others are resting". Although he said that RBI had not made targeting inflation as measured by consumer prices its sole purpose, it was a key objective.

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