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Stories by Paul De Grauwe and Yuemei Ji for Project Syndicate

Published:Tuesday | February 28, 2023 | 7:47 PMPaul De Grauwe and Yuemei Ji for Project Syndicate

LONDON: In an effort to tackle inflation woes, major central banks have been raising interest rates aggressively. But a byproduct of the recent rate hikes is higher interest payments on central-bank deposits held by commercial banks – in...

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