RBI: Deputy Governor Patel has been named to succeed outgoing Governor Rajan - BBH

Research Team at BBH, notes that the Reserve Bank of India Deputy Governor Patel has been named to succeed outgoing Governor Rajan. 

Key Quotes

“Rajan’s term ends September 4, and so Patel will be in place for the next policy meeting October 4.  Patel was instrumental in having the RBI adopt its inflation targeting regime, and is well-regarded by the markets.  As such, we would be very surprised if Patel shifted to a more dovish stance while inflation is still above target.”