Social Sciences

Investigating the relationship between inflation, interest rate and unemployment amid Covid-19

The relationship between interest rates, inflation, and unemployment for a country has been one of the most important and highly debated subjects in policy making circles of macroeconomics (Burdeken et al., 2020). Interest rate is a key policy tool of central banks of all countries which depicts the cost of borrowing, and conversely it also represents the reward of saving capital (Agenor et al., 2018).