RBI governor warns of turmoil in mkts if polls unable to deliver stable govt

April 01, 2014 15:34

Reserve Bank Governor Raghuram Rajan today said the markets have built up high hopes of the elections delivering a stable Government, but cautioned against "some turmoil" in the equity, and perhaps the bond and forex markets, if an unstable dispensation comes to power.

"The issue is that the markets right now are anticipating a stable government and rapid policy actions. To the extent markets are disappointed, it will reflect on stock markets, perhaps on bond markets, perhaps on exchange markets. We have to be prepared for some turmoil," he said, speaking at the customary post-policy press conference.

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