Friday, Jul 02, 2010
Rates are creeping up slowly
BBC: India raises interest rates to curb inflation
The Reserve Bank of India (RBI) has raised key interest rates by a quarter of a percentage point in an attempt to curb double-digit inflation. The rise came after a surprise hike in inflation to 10.2% in May.
Posted by alan @ 10:12 PM (806 views) Add Comment
3 Comments
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1. str 2007 said...
A quarter point rise against 10.2% inflatiom.
mmmm that'll be effective then.
Anyone would think the person in charge of interest rates was up to their eyes in debt and looking to inflate it away.
If only the Bank of England could manage to achive this.
Well they're going the right way about it I guess.
No doubt in India they sat and watched inflation bust through the 4 & 5% level whilst they discussed possible deflation problems and temporary inflation spikes.
2. simon68 said...
We are heading to India direction of inflation.
3. hpwatcher said...
We are heading to India direction of inflation.
Of course, when the inflation hits it will kill us. But the socialists would far prefer to talk about deflation and get us all into more debt. The deflation argument is an attempt to keep the party going, via the encouragement of more stimulus. It's b"llox.