The bank raised the rate to 15%, up 200 basis points. The interest rate in the first half of the year was 7.5%.
It said seasonally adjusted price growth in the third quarter exceeded an annualized 12% and inflation for the year is expected to be about 7%. The bank said it expected inflation to fall to about 4% in 2024. “Steadily rising domestic demand is increasingly exceeding the capabilities to expand the production of goods and the provision of services. Inflation expectations remain elevated. Lending growth paces are invariably high,” the bank said.Warren Buffett is set to indirectly bet on a tiny nation that's the world's fastest-growing economy and an emerging oil superpower
Ruffer, a UK-based fund known for winning bets made in the volatility market, is now hoping for a big upswing in the Japanese yen.High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker.
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