5 In short, the literature and the ample scope of papers presented in this seminar bear witness to the need for multifaceted explanations of productivity. and North, D.C. (1990), Institutions, Institutional Change and Economic Performance. Cambridge: Cambridge University Press. 2  See, for example, Rodrik, D., et al.
High deposit rates in turn have not allowed banks to cut lending rates at a faster pace consistent with the growth and inflation outlook. Although deposit rates are declining and effective lending rates are falling, there is clearly more space to cut rates given declining inflation.