Current policy stance should continue, expect more rate hikes: Ex-RBI Guv

RBI's current policy stance should continue, said former RBI Governor C Rangarajan. "Developed countries are also taking steep rate hikes. I expect more rate hikes," Rangarajan added. He further said there was a steep fall in INR's value against USD with the outflow of capital. "Now, with the inflow of capital, value of INR is expected to strengthen," he added.