UPDATE 1-Cool reception for India central banker urging global cooperation

jueves 10 de abril de 2014 19:49 GYT

* In easy-money era, Rajan pushing policy coordination

* Cuts to Fed's bond-buying has roiled emerging markets

* Bernanke, others say domestic needs should be focus

* Global reserves 'safety net' also proposed in Washington (Adds detail on reserves plan, other comments)

By Jonathan Spicer

WASHINGTON, April 10 (Reuters) - The head of India's central bank ran into a wall of resistance on Thursday when he urged some counterparts in developed economies to more formally consider the effects their domestic stimulus has on emerging markets.

Alongside central bankers from the United States, Europe, and Brazil, Raghuram Rajan took the stage at a high-profile event here to list his proposals for better monetary cooperation and a global "safety net" that could provide funds for countries in case of economic emergency.

He has grown increasingly vocal for change given how hard the currencies and stocks of emerging economies such as India have been rocked by big shifts in capital flows brought on by the unprecedented monetary accommodation in rich nations.

"We should examine the situation and spillover effects, by all means empirically, to the extent we can," Rajan, governor of the Reserve Bank of India, said at the Brookings Institution.   Continuación...