Financial Market Analysis
The European Central Bank (ECB) has increased its rate by 25 basis points each on October 5, 2006 and December 7, 2006 respectively. The United Kingdom raised its rate by 25 basis points on November 9, 2006 and January 11, 2007 respectively. In the same direction, other advanced economies such as Australia and Sweden have also raised their rates since September 2006.
Apart from this the short-term interest rates in various emerging economies over the world have also declined.
The Short-term rates among various countries over the world are as follows:
|Region/Country||End Of March 06||On Jan 17, 2007|
Note: Data for India is calculated on 91-day Treasury Bills rate and for other countries 3-month money market rates.
Source: The Economist.