Why an India Rate Cut May Have a Lot to do with Rain
As Urjit Patel prepares to take charge at India’s central bank, investors in the nation’s rupee and bond markets have the most at stake. That’s because current Governor Raghuram Rajan’s term, which ends Sept. 4, has so far brought them the best pay offs when compared with his two predecessors. Total returns from investing in the rupee outpaced every emerging-market peer other than the Argentine peso. Investors have heard little from Patel during his three-and-a-half years as deputy governor as he has rarely spoken publicly. HSBC Senior Economic Adviser Stephen King discusses with "On the Move" hosts Manus Cranny in London and Caroline Hyde in Berlin.
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