Suppose, inflation is expected to be 14% in India and 1.7% in the U.S. during the next one year. The spot exchange rate is INR 75.00/USD. According to PPP, next year's spot rate ought to be: USD 0.0149 / INR INR 0.0119 / USD INR 84.0708/USD INR 66.9079 / USD Question 12 1 pts Suppose, one-year nominal interest rates in the U.S. and Canada are 0.25% and 0.50%, respectively. If inflation in the U.S. is expected to be 1.6% over the next year, then, according to the Fisher Effect, inflation in Canada is most likely expected to be over the next year. higher than 1.6% lower than 1.6% equal to 1.6%