RBI Governor Appeals to Tolerance

The head of India’s central bank has made an unusual appeal for tolerance, warning the economy will never reach its potential if debate is stifled.

Reserve Bank of India Governor Raghuram Rajan made the case for tolerance Saturday in a speech at the prestigious Indian Institute of Technology.

“India’s tradition of debate and an open spirit of enquiry is critical for its economic progress,” he said.

Rajan’s comments — a rare public departure from the nuts and bolts of monetary policy — come amid a heated debate in India over religious tolerance and minority rights.

The central banker did not call out specific officials or political parties, but his comments were interpreted by many observers as a rebuke to Hindu nationalist politicians.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza