When business partner in McDonald`s Harry Sonneborn remarked that they were actually in the business of real estate than selling cheesy burgers and fries, it may have come as a startling observation but it had the heft of logic.
India`s central bank is likely to increase for a fourth time this year key policy and interest rates at its quarterly monetary policy review Tuesday to rein in high inflation, as economic growth is now on a firmer track.
The Reserve Bank of India’s decision to raise the cash reserve ratio (CRR) by an unexpected 75 basis points to 5.75 percent has invoked mixed reactions among the country’s leading bankers and industrialists.
A meeting of India`s central bank Governor Duvvuri Subbarao with Finance Minister Pranab Mukherjee fuelled speculation on Friday that the bank may tighten monetary policy earlier than expected to stem rising prices.
Faced with lurking dangers to the budding recovery, Federal Reserve policymakers are sure to leave a key interest rate at a record low to entice Americans to spend more and help the economic turnaround gain traction.
Australia`s Reserve Bank increased interest rates by 25 basis points on Tuesday, the second increase in as many months, in an attempt to contain inflation as the economy emerges out of the global financial crisis.
Retail and corporate loan rates may
stay the same as bankers on Tuesday ruled out any increase in
lending rates in the next three to four months, thanks to the
RBI keeping almost all key rates unchanged.