The headquarters of the Reserve Bank of India in Mumbai. (Photo: BQ Prime)
Macroeconomic stability needs to govern what the Reserve Bank of India needs to do. As such, the central bank needs to raise rates more aggressively, according to Jahangir Aziz.There’s a debate around monetary policy right now. Whether the RBI should hike by 35 basis points or 50 basis points or where the terminal rate is, said the head-EM economics research and commodities at JPMorgan.There’s the usual debate over the trade-off betw...