...Today the price of a kilogram of onions amounts to 75 rupees today (or $1.22). One third of the Indian population still earns less than $1.25 per day in the country and that means that buying basic foodstuffs is pretty much out of their price range today.
Hoosier's note: India has been raising [interest] rates. So, it is clear that interest rates elsewhere will not rise simply because the Fed has ZIRP in place.
Singapore will have to raise interest rates if our inflation, food inflation in particular, gets out of control!
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