Raghuram does a Rajan

The market was expecting at least a 25 basis points increase in policy rates after last week's high consumer inflation number. However, the Reserve Bank of India (RBI) unexpectedly decided to keep key policy rates on hold. Surprised by the RBI's decision, a journalist at the press conference immediately after the policy announcement asked Governor Raghuram Rajan, "We were expecting a Volcker, we got a Yellen." To which the governor answered,"Why a Volcker or a Yellen, how about a Rajan?"