An Oily Response to the Rate Hike
Welcome to the era of tighter dollars. Last Wednesday, the US Federal Reserve raised its interest rate by 0.25 percent. So, less amount of dollars is available to grease the emerging-market economies.
This hike was also the first salvo of more to come. The Fed has set a trajectory for its interest rate rise in a document called the Summary of Economic Projection. The plan involves gradual increases until the Fed's reference rate reaches 1.5 percent at the end of 2016 and around 3.5 percent at the end of 2017.
December 22, 2015
Welcome to the era of tighter dollars. Last Wednesday, the US Federal Reserve raised its interest rate by 0.25 percent. So, less amount of dollars is available to grease the emerging-market economies.
This hike was also the first salvo of more to come. The Fed has set a trajectory for its interest rate rise in a document called the Summary of Economic Projection. The plan involves gradual increases until the Fed's reference rate reaches 1.5 perce
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