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INDIA: RBI Governor Says “Very Risky” to Give Forward Guidance on Rates

INDIA
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Speaking in an interview with FT, India’s central bank governor defended the country’s economic resilience, saying it was “well placed” to deal with spillovers from emerging global shocks as the spectre of protectionism and trade wars looms during Donald Trump’s second term as US president.

  • RBI Governor Shaktikanta Das cited “protectionism and tariffs”, as well as “geo-economic fragmentation”, supply chain bottlenecks and surging commodity prices due to conflict as the biggest potential challenges. “These are issues on which we have no control,” Das said.
  • Das said the RBI expected prices to begin moderating next month. He added that it was “very risky” to give forward guidance on rates “with so many uncertainties all around”, but noted that “headline inflation is our target and rightly so”.
  • Das declined to comment on a potential extension of his term.
  • The full FT piece can be found here.
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Speaking in an interview with FT, India’s central bank governor defended the country’s economic resilience, saying it was “well placed” to deal with spillovers from emerging global shocks as the spectre of protectionism and trade wars looms during Donald Trump’s second term as US president.

  • RBI Governor Shaktikanta Das cited “protectionism and tariffs”, as well as “geo-economic fragmentation”, supply chain bottlenecks and surging commodity prices due to conflict as the biggest potential challenges. “These are issues on which we have no control,” Das said.
  • Das said the RBI expected prices to begin moderating next month. He added that it was “very risky” to give forward guidance on rates “with so many uncertainties all around”, but noted that “headline inflation is our target and rightly so”.
  • Das declined to comment on a potential extension of his term.
  • The full FT piece can be found here.