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Added on the 10/03/2015 18:42:02 - Copyright : Euronews 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.
The Federal Reserve has raised the key US interest rate again and says more hikes are coming as it battles soaring prices -- an aggressive stance that has raised fears of a recession. It is the third consecutive increase of 0.75 percentage point by the Fed's policy-setting Federal Open Market Committee (FOMC), continuing the forceful action to tamp down inflation that has surged to the highest in 40 years. SOUNDBITE
Federal Reserve Chair Jerome Powell announces a quarter-point increase in the benchmark interest rate to bring rising inflation under control, the first rate hike since the start of the Covid-19 pandemic. SOUNDBITE
Chairman Jerome Powell says the Federal Reserve will keep its key rate at zero "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals." SOUNDBITE
European stocks and bonds fall in a volatile market, hit by growing concerns that global central banks' commitment to the post-crisis orthodoxy of super-low interest rates and asset purchase programmes may be waning. As Ivor Bennett reports, European stock indexes were heading for their biggest losses since June.
European shares hit a two-week slump and a Brexit-fuelled bond rally helps push German and UK yields down to record lows. But, as Kirsty Basset reports, the UK's EU referendum is not the only thing worrying traders.
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