Russia's central bank has hiked interest rates again in order to appreciate (or at least slow down depreciation) of the rouble and reduce inflationary pressures. Relatively high interest rates serve to encourage hot money inflows - increasing the demand and value of the rouble. In addition, high rates act as an incentive for Russians to keep their money in Russian banks, reducing hot money outflows. High interest rates help to curb inflation by increasing the cost of borrowing and the reward for saving. This may lead to a decrease in consumer expenditure and investment, a reduction in aggregate demand, and reduced demand-pull inflation. However, borrowers suffer as the cost of servicing their debt increases. Furthermore, a decrease in AD can lead to a recession and cyclical unemployment.
New Europe Latvia's experience in the euro changeover New Europe With the euro successfully introduced in Latvia, the number of European Union countries using the single European currency has increased to 18, thereby raising the number of Europeans...
Russia is facing a perfect storm. Sanctions that restrict the flow of capital, a weakening currency, and a fall in the price of it's major export. A part of the BRICs that have seen strong growth in the last decade, it could be about to enter a recession. With Putin playing hardball it looks as if there is little chance of its woes abating any time soon.
EU finance ministers have just given the go-ahead for Latvia to join the euro in January 2014. No matter that the latest SKDS poll shows that only 22pc of Latvians support this foolish step, and 53pc are opposed. This is a very odd situation. The elites are pushing ahead with a decision of profound implications, [...]
Peach and nectarine farmers to be subsidised by the EU following the Russian food import ban. Fruit bought by the EU to be distributed to schools, hospitals, etc for free. Are peaches and nectarines a merit good?
by Herman Kamil and Jeremy Zook - Mexico's newfound competitiveness helps it regain a share of the U.S. import market it had lost to China
Adam Dean's insight:
F585 & IB3 lots here on how Mexico is fighting back against China in the battle for the US imports market. The article makes reference to economic integration, international competitiveness, productivity and many other important international concepts.
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