Mr Rajan's swansong

His last policy review raises hope for continuity in RBI's actions

In his last monetary policy statement as the Reserve Bank of India Governor, nobody expected Raghuram Rajan to change any of the policy variables. To that extent there were no fireworks. Nevertheless, what stood out in Tuesday's policy review, which is expected to be the last of its kind before the Monetary Policy Committee (MPC) takes over, is the element of continuity in Mr Rajan's thinking and approach, and the likelihood that it may be carried forward even after he exits the central bank. This is noteworthy as the run-up to his departure from the RBI has been rather controversial, ...