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It's Getting Hard in the Valley
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There are tough times ahead for the economy, according to Arion Bank's chief economist. It is straining households and companies and there is great uncertainty. The policy rate is currently at 7.75% and the Central Bank is forecasting 5.5 percent inflation in the last quarter of this year and is more pessimistic in its inflation forecast than other analysts. Commercial banks are accustomed to reflecting interest rate changes, whether they are fo…
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