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What are the possible consequences of having interest rate

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Reference no: EM132971061

Question - In the issue of October 23, 1999, the Economist  reports that the interest rate per annum is 5.93% in the United States and 70.0% in Turkey. From what you learned about international finance and macroeconomic factors, please answer the following:

In your opinion, what could the possible reasons behind the abnormally high interest rates in Turkey?

What are the possible consequences of having such a high interest rate?

Reference no: EM132971061

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