Tuesday, October 27, 2009
Interest rates look set to rise around the Globe
BBC carrying a similar story - Bank comments hit Indian shares (news.bbc.co.uk/1/hi/business/8327493.stm) - analysts said the bank was laying the ground for increasing interest rates. "The RBI is sending signals and preparing the system for a tightening of rates in the near future, led by inflationary concerns," said Rupa Rege Nitsure at the Bank of Baroda. Bloomberg- The Reserve Bank of Australia increased rates three weeks ago, citing costlier real estate. Norwayâ€™s Norges Bank is set to raise borrowing costs tomorrow, according to a Bloomberg survey. Bank of Korea Governor Lee Seong Tae said Oct. 23 that keeping rates at a record low may not be healthy for the economy.