First quarter motorcycles sales down by 25%
Quote:
Originally posted by KuKuKaChu:
The government raised fuel prices in October by an average of 126 percent following soaring oil prices on the international market. Analysts said that the move had eaten into the people's purchasing power and slowed down economic activities as the central bank also pushed up its key interest rate to help curb the resulting inflationary pressure.
The government raised fuel prices in October by an average of 126 percent following soaring oil prices on the international market. Analysts said that the move had eaten into the people's purchasing power and slowed down economic activities as the central bank also pushed up its key interest rate to help curb the resulting inflationary pressure.
1. Fuel prices rose by an average 126% - which is staggering and is guaranteed to create an inflationary economy.
2. So the Central Bank, in its infinate wisdom, pushed up interest rates to stop inflationary pressure.
This is knee jerk economics, and is guaranteed to stop a nations economity in its tracks.....