India’s central bank will make a “big mistake” if it raises interest rates this week, according to veteran emerging markets investor Mark Mobius.
His view goes against the crowd. Most economists in a Bloomberg News survey expect the Reserve Bank of India to raise the report rate by 25 basis points on Aug. 1, a second hike in eight weeks. The six-member monetary policy committee headed by Governor Urjit Pate l began its discussions today.
