Since 2003, he has been Governor of the Reserve Bank of India and prior to this he was India’s Executive Director on the Board of the International Monetary Fund.
This time around, however, it seems likely that only a small portion of the run-up of oil prices over the past year will be reversed, at least judging from the path of futures prices. In that environment, keeping inflation expectations anchored will be especially important for preventing the recent increases in energy prices from getting built into future inflation.