Wednesday, September 15, 2010

Interesting

Rising prices a worry, says Pranab

Ahead of monetary review by RBI next week, the government expressed concern over rising food prices and advised the central bank to take 'whatever' measures required to bring them down while keeping options open on the fiscal front. "I am worried," Finance Minister Pranab Mukherjee said on rise in food prices at the AGM of the Calcutta Chamber of Commerce. Mukherjee said,"I have suggested to the RBI to take whatever monetary measures needed to keep prices down."

Posted by mark @ 08:51 AM (942 views)
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3 thoughts on “Interesting

  • “I am worried,” Finance Minister Pranab Mukherjee said on rise in food prices at the AGM of the Calcutta Chamber of Commerce.”

    I was worried over a year ago, Do’h!….”Hyperinflation, food shortages.” and now I see “a run on a major bank.”

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  • They are mentally ill. How does hiking UK interest rates affect world food prices? There might be secondary effects, like making it more expensive to buy food futures, or it might boost GBP slightly, but picture wise, nothing.

    In any event, the BoE base rate (the rate that it pays commercial banks on their deposits with the BoE) is so low as to be meaningless – a slight increase in this will hardly affect bank’s behaviour at all.

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  • 1. mark wadsworth

    It’s too late for King now.

    He has missed the boat and we will sink along with the captain. Where’s Noah when you need him?!

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