The idea was never for me to be a career bureaucrat or career technocrat; it was more about where I could implement ideas and reform programs. Raghuram Rajan Read Quote
I don’t think policy makers surprise unnecessarily. You don’t pick surprise as a part of your policy. Markets value a certain amount of predictability. But there are certain areas where surprise is a tool. Raghuram Rajan Read Quote
Central bankers have had enormous responsibilities thrust on them to compensate, essentially, for the failings of the political system. And my worry is we don’t have sufficient tools to do that, but we’re not willing to say it. Raghuram Rajan Read Quote
The Reserve Bank cannot just exist; its ability to say ‘no’ has to be protected. Raghuram Rajan Read Quote
Ultimately, in the long run we need to immunise our system from being overly responsive to fluctuations in the exchange rate; that is, people should, by and large, be reasonably hedged, or they should borrow more in domestic currency rather than foreign currency. Raghuram Rajan Read Quote
Instead of abandoning competition and giving banks protected monopolies once again, the public would be better served by making it easier to close banks when they get into trouble. Instead of making banking boring, let us make it a normal industry, susceptible to destruction in the face of creativity. Raghuram Rajan Read Quote
The government will always tell you that it wants low inflation. The real issue is the horizon over which to bring inflation down. Raghuram Rajan Read Quote
