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If the rate of inflation is higher than your interest rate on your savings account you are losing buying power true or false?
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If the rate of inflation is higher than your interest rate on your savings account you are losing buying power

true or false?

User Systematix Infotech
by
8.0k points

1 Answer

5 votes
I believe it’s false

when interest rates are low, the economy grows and inflation increases. Conversely, when interest rates are high, the economy slows and inflation decreases.
User Mark Sowul
by
9.3k points
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