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New RBI Governor: D. Subbarao

Bye, bye Mr. YVR!

Bloomberg: India Appoints D. Subbarao as Central Bank Governor

India unexpectedly appointed Finance Secretary Duvvuri Subbarao as the next governor of the central bank, which is fighting the fastest inflation since 1992.

Eight of 10 economists surveyed by Bloomberg News expected the government to extend Reddy’s term because of his decade-long experience at the Reserve Bank of India.

The Reserve Bank governor is appointed by the prime minister, based on the recommendations of the finance minister.

Moral of the story? Economists can’t predict sh!t. As for Mr Subbarao, the chart below says all:

This entry was posted on Monday, September 1st, 2008 at 7:11 pm and is filed under economics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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