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Interest rates play a significant role in shaping the economic landscape of a country. They affect investment, inflation, and consumer spending, among other economic variables. In recent times, the discussion around interest rates has been centered on the debate between keeping them low or raising them to combat inflation. However, in certain economic conditions, there can be a case for maintaining high interest rates indefinitely. Inflation has been a persistent concern for many economies. When the overall price level of goods and services rises, it erodes the purchasing power of money. Central banks often respond to rising inflation by increasing interest rates to reduce consumer spending and investment, thereby cooling down the economy. However, if inflation continues to persist despite high interest rates, a case can be made for keeping interest rates high indefinitely. High interest rates can incentivize saving and discourage borrowing, which can help in curbing excessive consumer...

When selecting a savings account, it is crucial to understand the distinction between easy access and fixed term accounts. Both types have their advantages and disadvantages, and the choice depends on your financial goals and preferences. An easy access savings account, as the name suggests, provides you with easy and unlimited access to your funds. This means you can withdraw or deposit money whenever you want without any restrictions. The primary benefit of an easy access account is its flexibility. It allows you to access your money in case of emergencies or unforeseen circumstances. Additionally, it is an ideal choice for individuals who prefer having complete control over their savings. On the other hand, a fixed term savings account, also known as a fixed deposit or a time deposit, requires you to commit your funds for a predetermined period, usually ranging from a few months to several years. In exchange for this commitment, you receive a higher interest rate compared to an easy...