Andy Mukherjee: A weakening rupee could end RBI’s efforts to keep credit cheap for borrowers
Still, Malhotra’s cheap-money era is likely drawing to a close, thanks to the pressure from the foreign-exchange market. The war in Iran started two months ago, and it has hammered the Thai baht, Philippine peso and the Indonesian rupiah too. Their central banks are also hesitant to raise their benchmark rates, with the notable exception of the Philippines.
Post Comment