Cold Turkey

Reserve Bank of India governor Duvvuri Subbarao returned from a weekend meeting in New Delhi last fortnight emboldened that if he opted for an interest rate hike he would have the support of the political leadership. At a meeting with the prime minister reviewing the growth and inflation situation, a finance ministry official found himself in the minority of one urging pause, while all the others around the table favoured action. India, the pausewallahs were told, is no Turkey!