Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
May 23, Wednesday 2018 12:33 AM       

       HEADLINES: V T Balram a heinous type that give likes to pedophilia                                              Nadir is not Maoist: Police agree finally                                              Lini wrote that heart-breaking letter from death bed                                              Lini's children await their mother                                              Kozhikode: Two more people die, Nipah virus suspected                                              Nipah: Dr. Kafeel Khan seeks permission to serve in Kerala                                              J&K: Eight-month-old infant killed in ceasefire violation                                              Yeddyurappa hints at foul play in K'taka polls, writes to poll panel                                              16-yr-old girl among eight killed in anti-Sterlite protest in TN                                              KCR greets Kumaraswamy ahead of swearing-in                                              '99.9%' chance Trump-Kim meet to take place in Singapore: S Korea                                              Priyanka Chopra visits Rohingya camps in Bangladesh                                              US will crush Iran: Mike Pompeo                                              Beijing's South China Sea bombers fly in the face of protests                                              Farhaan Behardien eager to return to Proteas squad                                              Sports Minister Rathore throws a fitness challenge to Indian citizens                                              FIFA WC 2018: The Big Names who didn't make the cut                                              Kaumudi Facebook
       BUSINESS Next Article: Sensex climbs 122 pts in early trade  
       Won't apply for top job at Bank of England: Raghuram Rajan
 
         Posted on :16:21:28 May 17, 2018
   
A A
       Last edited on:16:21:28 May 17, 2018
         Tags: Bank of England, Raghuram Rajan, Job
 

LONDON: Former Reserve Bank of India chief Raghuram Rajan said on Wednesday he did not intend to apply for the job of Bank of England governor which is due to come vacant next year.

Rajan has been mentioned by analysts as a possible future BoE governor after Mark Carney - who previously headed Canada's central bank - steps down at the end of June 2019.

"I have a very good job at the University of Chicago and I actually am an academic, not a professional central banker. I am very happy where I am," Rajan told reporters after an event in London hosted by the U.S. university's Booth School of Business, where he is a finance professor.

"I think I've said all I can say. I'm not going to apply for a job anywhere, absolutely."

Asked what he would do if he were approached to fill the role, Rajan - who was the RBI's governor until September 2016 - said he had answered a similar question.

British finance minister Philip Hammond is expected to name Carney's successor later this year, and said in Washington last month that he would consider candidates from abroad.

Andrew Bailey, a former BoE deputy governor who now heads Britain's Financial Conduct Authority, is seen as the front-runner by many economists in the City of London.

Aside from current senior BoE staff, other names mentioned include Agustin Carstens, the Mexican who is general manager of the Bank for International Settlements, Minouche Shafik, a former BoE deputy governor who heads the London School of Economics and Shriti Vadera, who chairs Santander UK.

Rajan is a former chief economist at the International Monetary Fund, and warned of financial imbalances in the run-up to the 2007-08 global crisis.

On Wednesday, he said that banks were now much safer but risk had shifted to other parts of the financial system.

Debt troubles in Argentina were likely to be repeated elsewhere and he highlighted the increased volume of 'covenant-lite' loans compared with before the crisis.

The US Federal Reserve and the European Central Bank had probably done too much in the way of asset purchases once the worst of the crisis had passed, Rajan added, and had let governments off the hook in terms of undertaking structural reform and providing fiscal stimulus.

In the ECB's case, asset purchases appeared to have weakened the euro but not boosted real economic activity.

He declined to comment on whether the BoE's 435 billion pound ($587 billion) asset purchases were too much, or if Britain's fiscal austerity since 2010 had been excessive, as he had not studied the British economy in as much depth.

A A
       BUSINESS
Next Article: Sensex climbs 122 pts in early trade
 
 
BUSINESS HEADLINES
Fuel price can be controlled by reducing VAT: Petrol dealers  
Fuel price hike: Centre to intervene, to hold talks with oil companies  
Sensex opens in green on value-buying, up 83 points  
Price of petrol touches Rs. 81 per litre in Thiruvananthapuram  
Sensex down 97 points, Nifty below 10,600  
Sensex up 126 points on Asian cues  
Date market sees decline in demand due to GST this Ramzan  
Fuel prices go up again  
India on path of development of tax collection, domestic capabilities  
Less oil production in OPEC affects fuel price: Pradhan  
Petrol, diesel touch all-time highs as oil companies hike rates  
PriceMap offers India's first product and price discovery platform for offline retail  
Birla Corporation, EBIDTA  
Despite challenging times, global business growth is on the rise, finds Epicor  
Despite challenging times, global business growth is on the rise: Epicor  
Sensex sinks 300 pts to close below 35k-mark  
Petrol, diesel prices skyrocket  
Horlicks creates a new Guinness World Record for making largest glass of milkshake  
April exports jump 5.17% to $25.91 bn, imports rise 4.6%  
Sensex tanks 239 pts in nervous trade  
Won't apply for top job at Bank of England: Raghuram Rajan  
Sensex climbs 122 pts in early trade  
Andhra FM to meet President over 15th Finance Commission's ToR tomorrow  
India's economic expansion to boost mining: President  
Netflix to invest 85% spending on original content  
 
Will GST help decrease the petrol price?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy