RBI's decision was a nuanced one: D Subbarao
The Reserve Bank of India governor D Subbarao has explained the RBI's decision to not cut its benchmark rate by saying that the decision was a nuanced one. The complexities of the growth-inflation balance pushed the RBI to consider a CRR cut rather than a repo rate cut, he says. The governor also adds that while there is room for possible rate cuts in the fourth quarter, room for policy action remains limited.
