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How would you rate Raghuram Rajan's first policy announcement?
Economists had widely expected him to leave the repo rate untouched. Raghuram Rajan thought otherwise, and implemented a 25 basis point hike. The RBI Governor, however, reduced the Marginal Standing Facility (MSF) rate by 75 basis points to 9.5% and reduced the daily maintenance of CRR from 99% to 95%, effective September 21. Will these moves meet the twin objectives of controlling inflation and strengthening the rupee? How would you rate Rajan's first policy announcement? Do share your views with us