Word: upwards
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...short-term interest rates rocket upward, corporations are also being forced to pay higher interest on the bonds they issue for 20-or 30-year periods. As recently as six months ago, such bonds sold for a rate of 7.9%. Last week Ohio Power Co. tried to sell $150 million in bonds at a 10⅛% rate but even then had difficulty in attracting lenders...
...found Snedden's patchwork anti-inflation package of wage-price controls an unconvincing program, his emphasis on money matters put Whitlam on the defensive. Only midway through the campaign did Labor regain the initiative by pointing to its own inflation suppressants: a combination of tariff cuts and an upward revaluation of the Australian dollar. "It's possible to freeze meat and vegetables but not their prices," snorted the Prime Minister, knocking down the ON SERVICE idea of a wage-price freeze...
...Hugh had a hard time getting going this year, and his Princeton showing climaxes a long upward climb," Barnaby said. "He took two big matches on Saturday and played the best tennis of his career...
...prop under the housing market. Lewis Cenker, president of the National Association of Home Builders, called the moves "a realistic recognition of the disastrous effects that inflation and tight money are having on a major segment of the nation's economy." The program, however, is certain to keep upward pressure on nonhousing interest rates because, in order to get the cash to subsidize housing, the Government will have to step up its own borrowing in an already tight money market...
...possibility that the department may be in the midst of dramatic change has thrown VES into veritable chaos. The intensity of the rumors floating around the department took a hefty upward turn last week after the executive committee--in something of a surprise move--chose not to rehire three VES teachers, two of whom have played a leading role in the department ever since its creation. The firings only increased the sense of futility of teachers and students who wanted to know what the hell was going on in their own department. Almost everyone in VES--save the four members...