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This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...
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, inflation and lending rates. All data was obtained from the Central Bank of Kenya online repositories. The empirical assessment … effective in controlling and stabilizing prices especially inflation; two, expansionary fiscal policy is not only inflationary …
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