michael_selway
Coal & Phosphate, thats it!
- Joined
- 20 October 2005
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Thanks for the comments Duc.
How long could we expect for the highly inflationary period?
Hey look at this
Hungary is lifting rates to save the dollar!
http://business.smh.com.au/business...ate-bid-to-defend-currency-20081023-572i.html
Hungary lifts rates in desperate bid to defend currency
Hungary's central bank has raised the benchmark interest rate by 3 percentage points, after a series of earlier measures to prop up the forint failed to halt the flight of investors from local assets.
The Magyar Nemzeti Bank lifted the two-week deposit rate to 11.5% yesterday, the highest since July 2004. The first emergency increase in five years came after policy makers left rates unchanged at their scheduled meeting two days ago.
Stocks, bonds and the forint plunged in the past two weeks on concern that the country will face Iceland-like difficulties in financing its current account and budget deficits with global credit drying up.
Lining up help from the European Central Bank and the International Monetary Fund, along with moves to increase liquidity, failed to stem the slide...
The thing is Australia is cutting rates (and lowering AUD to lower levels as per artilce below) but will that fuel inflation out of control?
http://business.smh.com.au/business/dollar-tipped-to-drop-to-50-us-cents-20081023-573a.html
thx
MS