Raghuram Rajan Cautions Against Competitive Monetary Easing

Dhaka: Cautioning against "competitive monitory easing", Reserve Bank of India Governor Raghuram Rajan on Thursday said the "non-system" in international monetary policy poses substantial risk to growth. Mr Rajan pitched for stronger and well-capitalised multilateral institutions having widespread legitimacy, some of which can also provide "patient capital". "The current non-system in international monetary policy is, in my view, a...