India's Rajan: Rate Decision 'Could Go Either Way'

The transcript discusses the use of models and subjective judgment in forecasting economic outcomes, highlighting the risks involved. It also covers the considerations for adjusting interest rates, emphasizing that decisions depend on incoming data and forecasts. The discussion remains neutral on whether rate cuts or hikes are more likely, focusing on achieving a 6% target by 2016.

What does the speaker imply about the possibility of rate cuts versus rate hikes?

What is the significance of the 6% figure mentioned in the text?