Reserve Bank Of India Governor Show His Hawkish Bent

The new Reserve Bank of India governor Raghuram Rajan has proven himself to be a financial hawk by raising interest rates when the market had assumed he would leave them alone, reports Sophia Yan for CNN Money. Rajan is trying to get inflation under control. Reserve Bank of India Governor’s major decision Increasing the repo rate by 25 basis points to 7.5 percent will probably be remembered as the first major decision of Rajan’s tenure, which started less than three weeks ago. The former IMF chief economist has started at a precarious moment, when the globe is slowly recovering, but…