Concern over Europe’s debt crisis IS keeping some policy makers from raising interest rates. Australia this week joined the U.S., Europe and Indonesia in keeping borrowing costs unchanged to gauge whether the European crisis threatens the global economic recovery.
Friday, July 9, 2010
S. Korea Raises Rates First Time Since Crisis as Asia Resilient to Crisis
http://www.bloomberg.com/news/2010-07-09/bank-of-korea-raises-interest-rate-to-2-25-to-stem-inflation-on-recovery.html
Bank of Korea researchers said in a report this week that it is “inevitable” that Greece will default because a shrinking economy will push its debt to an unsustainable level. While such an outcome isn’t imminent, it may trigger “major chaos” in global financial markets if it occurs, they said.
Concern over Europe’s debt crisis IS keeping some policy makers from raising interest rates. Australia this week joined the U.S., Europe and Indonesia in keeping borrowing costs unchanged to gauge whether the European crisis threatens the global economic recovery.
Concern over Europe’s debt crisis IS keeping some policy makers from raising interest rates. Australia this week joined the U.S., Europe and Indonesia in keeping borrowing costs unchanged to gauge whether the European crisis threatens the global economic recovery.
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