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RBI not done with rate cut, still in accommodative mode: Rajan
WASHINGTON, Aug 29 (Agencies): Hinting at the fourth interest rate cut this year, RBI Governor Raghuram Rajan has said he is not done with lowering rates and the central problem for the entire world remains slowing economic growth. Rajan, who was participating in the elite Jackson Hole economic symposium of the Kansas City Federal Reserve, also said RBI has reached an agreement with the government on a new rate-setting panel, the Monetary Policy Committee, which would be announced soon. Rajan, who has under pressure from the government and the industry to further cut rates, said RBI is still in an "accommodative mode" and would take a decision as per the data on inflation and other macroeconomic factors. "We also have inflation which other people do not have. We have cut the interest r...
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