There's been a renewed debate about fiddling with the interest rate thanks to one key concern, inflation. When price begin rising across the board, the r b i can intervene and adjust the interest rate upwards. This makes borrowing more difficult, and people will have a hard time accessing funds. If they don't have as much money to spend, it can help quell demand. And economist swear by this method.
The Monetary Policy Committee (good folks responsible for setting interest rates in the country) decided to leave them as-is yesterday (at 4%) after deliberating on the matter for three days. However, the Monetary Policy Report — published on the same day almost always offers new insights on the current state of the economy. So in today’s episode for 9th December 2021, we will talk about all the interesting bits from the report and more.
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