The interest rate in Iceland has been raised to 15 per cent by the central bank.The increase in the rate of interest was unexpected, nevertheless inevitable and necessary to limit the rising inflation and the declination of the national currency, the krona.
However, the interest rate is the fundamental link between the pure financial system and all other economic activities. Touching the interest has an immediate and direct impact on investments, costs of ongoing projects which may turn the financial crisis into a nationwide recession.
Source: http://www.iht.com/articles/2008/03/25/business/icebank.php
Ankatrijn Kindekens
1 opmerking:
The interest rate in Iceland has been raised to 15 per cent by the central bank.
The increase in the rate of interest was unexpected, nevertheless inevitable and necessary to limit the rising inflation and the declination [decline] of the national currency, the krona.
However, the interest rate is the fundamental link between the pure financial system and all other economic activities. Touching the interest has an immediate and direct impact on investments, costs of ongoing projects which may turn the financial crisis into a nationwide recession.
Good flow & style
olaf
Een reactie posten