61. With some exceptions, the Bank of Japan has kept the rate below the discount rate since July. 62. Analysts expect little currency reaction to the U.S. Federal Open Market Committee meeting, with the Fed expected to keep rates on hold. 63. Analysts predicted the Fed could keep cutting rates until the markets regain confidence. 64. But high interest rates and strict credit quotas have battered corporate earnings and kept savings rates strong. 65. Inflation data from Germany are important to decisions on interest rates by the European Central Bank, which has kept rates on hold since November. 66. Keeping the rates high did not stop the baht from falling, neither did it stop capital flight. 67. Keeping the rates high only encouraged everybody to put their money in the bank. 68. The banks, meanwhile, have been told to keep their rates within half a rupee of the official rate. 69. The bank announced its decision to keep rates where they are after a regular meeting of its monetary committee. 70. The Communist Party hopes the campaign will shore up public confidence in its ability to keep crime rates under control. |