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More stable inflation set off an unprecedented expansion in consumer credit.
Other foreign banks, including HSBC, have also rushed to invest in Brazil's retail-banking market since falling inflation set off a wave of consumer spending.As foreigners become more entrenched, they confront many domestic banks with a stark choice: innovate or get left behind.
The logistics of the conversion are mind-boggling, and leave room for any number of disasters from a rise in money laundering, counterfeiting and bank heists to inflation set off by retailers rounding up prices as they convert to euros three years after banks and stock exchanges adopted the currency.
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Fear of inflation helped set off Wednesday's stock selling.
Sudan's currency, the pound, has plunged; rapid inflation has set off riots; and the government has been scrambling for new sources of revenue.
So far, complaints about rising prices have amounted to little more than grumbles, but serious inflation has set off social unrest in China in the past.
Besides the inflation fears set off by the strengthening economy, Mr. Gross said he was also wary of Treasury bonds because he feared the burgeoning supply of new debt issued to finance the government's huge budget deficits would overwhelm demand, driving interest rates higher.
The apparel increases, which have been strongest in women's clothing, contributed to a rising overall inflation rate that set off talk of stagflation this week.
For instance, he does not face an acute foreign policy crisis, at the moment at least, as Mr. Carter did in Iran, and a European-driven recession would probably not be associated with high inflation (although one set off by oil-price instability in the Middle East might).
According to cosmologists' standard model, the enormous stretching of inflation would have set off ripples in space and time called gravitational waves, which would imprint telltale pinwheel-like patterns called B modes in the polarization.
I'm a little late to this 4%-inflation-target party set off by the economist Lawrence Ball (whose work shows up here at OTE more than random chance would predict) and picked up by Paul K. I have a few things to add to the discussion, but first, a very brief recap of this simple, sensible argument.
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