India's policy hawk sees end of aggressive hikes amid growth fears

India’s most hawkish rate-setter said the policy rate was reaching a level that allows past aggressive action to cool inflation without inflicting too much pain on the economy.
 

“I do hope that 6% will be sufficient to glide inflation down toward the target, and in that case, 6% could be the terminal rate. It could also be a little higher,” Jayanth Rama Varma, an external member of the Reserve Bank of India’s monetary policy panel said in an email reply to questions. 

Varma, who called on the RBI more than a year ago to hike earlier than later, is now