Connect with us

Nigeria In One Minute

Concerns in Nigeria, Others over US Fed Interest Rate Hike

Published

on

The United States Federal Reserve wednesday raised interest rates again at the end of its Federal Open Market Committee (FOMC) meeting, raising concerns of increased turmoil in emerging markets (EMs).

Specifically, the Fed increased the target for the bank’s benchmark rate by 0.25 per cent, to a range of two-2.25 per cent.

This clearly means that policy makers in Nigeria and other emerging economies would come under intense pressure as they seek measures in the coming days to retain exiting foreign portfolio investors.

Stock markets as well as currencies in EMs such as Argentina, Turkey, South Africa, Brazil, Mexico, Egypt, South Korea, Philippines and China, have plunged heavily in the past few weeks.

THISDAY, September 27, 2018

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations