This was a good week for Reserve Bank of India Governor Raghuram Rajan. Euromoney named him the world's best central banker. More importantly, new data showed India's wholesale inflation slowing to its lowest rate in five years. The numbers may give Rajan room to consider a rate cut in the next few months. They should also spur both him and the government of new Prime Minister Narendra Modi to sort out once and for all lingering questions about how India should combat inflation.