Raghuram Rajan
RBI standoff ends in compromise after marathon meeting
Nine-hour meeting ends in agreement, but government extracts concessions on key issues
Rajan sees room for disagreement between RBI and government
But former governor says triggering Section 7 would be cause to be “very worried”
Right-wing commentator appointed to RBI board
Swaminathan Gurumurthy has been critical of the RBI in the past
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship
‘Fault lines’ may be re-emerging, warns Bini Smaghi
Societe Generale chairman says supervisors should not rest easy until they have a better understanding of the “fundamental causes” of financial crises
Book notes: Advice & Dissent: My Life in Public Service, by YV Reddy
An engaging look into the private life and career of a former governor of the Reserve Bank of India, and arguably one of the best central bankers of the twentieth century, YV Reddy
Piecing together a financial theory of stagnation
Ideas presented at recent BIS annual meetings reveal an emerging framework that explains how the financial system may be dragging down the real economy; Hélène Rey was the latest to contribute
Book notes: Can We Avoid Another Financial Crisis?, by Steve Keen
Steve Keen challenges “mainstream” economic thinking in this concise book, hoping to shift the political debate on debt
Book notes: Fed Up, by Danielle diMartino Booth
A “fascinating but annoying” account by a US Federal Reserve insider who openly criticises the culture of the US central bank and policy decisions made by the institution leading up to and following the financial crisis
Rajan and Weber: central banks may fail next crisis test
Heavyweight economists say central banks may well find themselves intervening at the next major liquidity crisis, despite ostensible progress on resolution
2016 sees major change among central bank governors
Double the number of new governors were appointed in 2016 compared with 2015, latest Central Bank Directory shows; global staff numbers plateaued in 2015 and reversed this year
Rajan and co-authors present paper to ECB research conference
Paper introduces “pledgeability” as analytical tool; concept helps explain prolonged financial downturns, authors say
Rajan debunks central banking myths in final address
Outgoing governor completes valedictory tour with a cross-examination of the contradictory demands on the RBI, restating the value of central bank independence
Rajan tells regulators: do not be afraid of innovation
Regulators should not ban innovation in order to be safer, outgoing RBI governor says; innovation needs support to encourage its “appealing features”
Economic outcomes will “vindicate” central bank – Malawi governor
Chuka asks the private sector to “trust” the central bank in its policy decisions; a reduced debt-to-GDP ratio and an end to drought should see inflation fall, he says
RBI launches bond market shake-up
Host of measures aim to develop markets, increase participation and improve liquidity in Indian capital markets, following review by former deputy governor Harun Khan
Rajan hopes new MPC will make next RBI policy statement
Reserve Bank of India keeps rates on hold in Rajan’s last decision before stepping down; he hopes the monetary policy committee will be up and running by next decision in October
Governments should look beyond criticism and protect central bank independence – Rajan
Governor of the RBI says institutions are used to criticism in line of work, but should still have ability to adopt whichever policies are needed
Rajan sees bright future on inclusion but stresses work to be done
Outgoing governor of the Reserve Bank of India discusses different approaches open to policy-makers and some common challenges; unified payment interface effective in a ‘few weeks’
Rajan has left his mark but risk of fiscal dominance remains
Vishrut Kansal examines the legal framework Raghuram Rajan’s successor will face, arguing much of the outgoing RBI governor’s work will continue but more safeguards are needed
Rajan urges completion of bank cleanup
Outgoing governor argues actions taken to address public sector bank balance sheets must be taken to their “logical conclusion”; encourages government to provide capital injection
Rajan says India should not change course, as he steps back from RBI
Governor announces his intention to return to academia after three eventful years at the helm of India's central bank, and urges policy-makers to stay strict on inflation
Rajan sidesteps question on RBI future
Reserve Bank of India governor says decision on second term will be reached after discussion with government; RBI holds policy rate at 6.5% after inflation surprise
Rajan sided with the consensus, minutes show
RBI governor cuts rates in line with views of external advisers; four of the five members wanted to reduce the repo rate at the April 5 meeting