The US Federal Reserve is widely expected to raise its benchmark interest rates this week, and Asia is ready for it when it happens, economists said.
SINGAPORE: The US Federal Reserve is widely expected to raise interest rates this week, and Asia will be ready for it when it happens, economists told Channel NewsAsia.
Speculation over when the Fed will raise rates for the first time in nearly a decade has dominated the market agenda ever since the central bank ended its historic quantitative easing program in October 2014. Many market watchers have been concerned about a rise in US interest rates, recalling how an exodus of funds from emerging markets was triggered in 2013 after former Fed Chairman Ben Bernanke raised the possibility of “tapering” the bond-buying program.