That situation produced chronic inflation and low, even negative, real interest rates that sent property prices into the stratosphere.
The central bank also fosters chronic inflation, so as to impose a tax on cash holdings and reduce the real value of debts.
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The government says it will impose sweeping monetary and other changes to pull down Turkey's chronic inflation (65% a year, at last count) and runaway interest rates.
Although the economy has been weak for much of Mr Cardoso's second term, the president remained popular, for having tamed Brazil's chronic inflation and for bringing stability to its democracy.
At the same time, Brazil itself was going through major political and economic upheavals, with a new president and its government taking office under a debt crisis and the failure of Plano Cruzado to abate chronic inflation.
Owing to such chronic inflation, the Peruvian currency, the sol, was replaced by the Inti in mid-1985, which itself was replaced by the nuevo sol ("new sun"), at which time the new sol had a cumulative value of one billion (1, 000, 000, 000) old soles.
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The move was part of a package of measures known as the Collor Plan, aimed at combating the country's chronic high inflation.
But Zimbabwe citizens had long since lost patience with chronic corruption, inflation, economic stagnation and shortages.
The trouble for Mr Cardoso is that in Brazil any devaluation would be a messy affair, risking a return to the psychology of inflation and so in practice, if not this time in law to the price indexation that made inflation so chronic.
Battered by inflation, unemployment, chronic fuel shortages and their country's involvement in a pointless war in Congo, Zimbabweans are increasingly turning away from their president's party, which must face an election before August.
The BOJ's ultimate goal is to reverse Japan's chronic decline in consumer prices and induce inflation of 2% in two years.
Ronald Reagan faced a worse economy than Obama did, because there was double-digit unemployment, double-digit inflation, double-digit mortgage rates and chronic shortages that disrupted businesses and consumers alike.
Venezuelans are afflicted by chronic power outages, crumbling infrastructure, unfinished public works projects, double-digit inflation, food and medicine shortages, and rampant crime.
People are fed up with chronic power outages, crumbling infrastructure, unfinished public works projects, double-digit inflation, food and medicine shortages and rampant crime that has given Venezuela among the world's highest homicide and kidnapping rates.
Venezuelans are afflicted by chronic power outages, crumbling infrastructure, unfinished public works projects, double-digit inflation, food and medicine shortages, and rampant crime one of the world's highest homicide and kidnapping rates that the opposition said worsened after Chavez disappeared to Cuba in December for what would be his final surgery.
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