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Interest Rates Refuse to Behave

Economic and Political Weekly
Vol. 31, No. 39 (Sep. 28, 1996), pp. 2659-2665
Stable URL: http://www.jstor.org/stable/4404616
Page Count: 7
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Interest Rates Refuse to Behave
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Abstract

The RBI's efforts, including the pumping in of a large amount of liquidity through the foreign exchange market and release of banks' cash reserves, to bring down interest rates are proving ineffective, with damaging consequences for both the real and the financial sectors of the economy.

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