Prediction on interest
NZPA-Reuter Detroit The leading American economic pundit, Dr Henry Kaufman, predicted a “dramatic rise in interest rates” in the United States later this year. The chief economist of Salomon Brothers told a news conference: “We should anticipate a prime interest rate of between 13 and 13.5 per cent by the end of 1984.” His remarks came after a rise in the United States prime rate, the interest rate which United States banks charge their most creditworthy customers, from 11 per cent to 12 per cent in the last three weeks and after the Federal Reserve Board last week raised its bank rate to commercial banks from 9.5 per cent to 10 per cent. Dr Kaufman also predicted that the United States economy would keep expanding in the next 12 months, but said renewed inflationary pressures would be felt in the second half of this year
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Press, 11 April 1984, Page 34
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148Prediction on interest Press, 11 April 1984, Page 34
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