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Added on the 17/12/2015 12:37:29 - Copyright : Reuters EN
The U.S. economy's readiness - or not - for an interest rate rise is likely to once again take the global economic spotlight in the coming week, just a month before the U.S. presidential election. And many will also be watching the British pound - which took a pasting last week. Ciara Lee reports.
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Fed Chair Jerome Powell says "in determining the extent to which additional policy may be appropriate to return inflation to two percent over time, the committee will take into account" the impact of existing interest rate hikes. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces a 0.25 percentage point increase in interest rates, but signals that the battle to rein in inflation is not yet over. "We continue to anticipate that ongoing increases will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time," Powell tells reporters at a news conference. SOUNDBITE
The European Central Bank has opted to lift interest rates by half a percentage point, according to ECB President Christine Lagarde. The rate represents a smaller hike than previously as the ECB has been lifting borrowing rates at an unprecedented pace in recent months to bring down record-high consumer prices after Russia's war in Ukraine sent energy and food costs surging, but Lagarde warns that "based on the substantial upward revision to the inflation outlook, we expect to raise them further." SOUNDBITE
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