It was forced to increase rates sharply a year later when inflation began to rise.
Passed by sharply divided Congress, a sharply divided Supreme Court upholds the health care reform law in a sharply divided, convoluted way.
The alliance's self-portrayal as a cohesive entity contrasted sharply with a new air of uncertainty on the left.
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After all, a year or two of sharply higher government spending in the early part of Mr Bush's presidency when economic growth slowed sharply, a stockmarket bubble burst, and America faced unprecedented and confidence-sapping security threats may well have been for the good.
The Straussian judgment on American happiness has a sharply limited appeal as a partisan political message.
The result is a sharply modern film with a clear-eyed and sincere populism.
At the other end Kolinko had to be at his best to deny Junior a second of the night and a third for Walsall in the 23rd minute, reacting sharply to a point-blank effort from the Brazilian.
It was a time when the grand comforts of coal company officials contrasted sharply with a miner's family struggle amid the crushing poverty of the coal camp where food and provisions had to be purchased at the company store, owned by the coal company itself.
The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008.
Why did the market reverse so sharply into a rally with the news actually getting worse?
Equity markets rallied sharply on a better-than-expected June manufacturing report from the Institute for Supply Management.
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In the third quarter of 2012, Google's profits fell sharply from a year earlier.
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Revenues from the commercial and industrial sectors have fallen sharply as a result of the economic downturn.
The old convention about not raising interest rates sharply during a presidential election year has been abandoned.
Gold mining company shares fell sharply as a result, with Fresnillo ending down 15%, and Randgold dropping 8.3%.
Repeat: The 2008 presidential has the potential to turn America sharply toward a European social welfare state model.
The latest 4.7% jobless rate is down sharply from a record high of 5.5% in January last year.
And the pace of foreclosures, while still rising in some states, has slowed sharply on a national basis.
Thursday's downbeat figures offered some respite though, as the euro fell sharply against a broad range of currencies.
Russian influence in Ukraine has risen sharply after a series of political hiccups there in the past year.
And, when gold surges sharply on a safe-haven bid, silver tends to follow.
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For two consecutive quarters, Aetna has seen net income spike up sharply despite a small percentage downdraft in revenues.
In most rich countries the detailed plans for fiscal austerity contrast sharply with a lamentable lack of microeconomic ambition.
The Nikkei 225 rebounded sharply from a 16-year low on the news, rising by almost 4% in a day.
The number of new FDA-approved drugs is down sharply from a year ago.
America's trade deficit is likely to widen sharply as a result of problems in Japan and the rest of Asia.
The ball rose sharply off a length and the Somerset opener could only fend into the gloves of wicketkeeper Chris Read.
Eric, tall and broad-shouldered like his father, had swung from his heels but sliced the ball sharply into a nearby concrete fountain.
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We expect equities to continue outperforming bonds, though they would probably fall sharply if a tax increase on dividends and capital gains became probable.
Scottish full-back McNaughton limped off in the 18th minute after pulling up sharply with a hamstring strain and was replaced by debutant left-back Lee Naylor.
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