Federal Reserve expected to HOLD interest rates   

08 November 2018 : The Federal Open Market Committee of the U.S. Federal Reserve is expected to hold interest rates at this month’s meeting scheduled to conclude today, while maintaining the hawkish language from recent meetings. The Fed has raised rates three times—by 25bps each time— already this year and has signaled one more rate rise in December, followed by two more by mid-2019. A rise in weekly wage of 3.3% annualized in Q3’18 and a booming economy (Q3’18 GDP growth of 3.5% annualized) have buoyed the Fed in its monetary tightening efforts. The effect of this has been an increased in U.S. bond yields, with the 10-year bond peaking at 3.23% in September. Rising interest rates would push up the cost of external borrowing for Nigeria, a significant outcome given the recently approved $2.8 billion external borrowing plan and continue driving capital outflows out of emerging markets. 

Reporting for EasyKobo on Thursday , 08 November 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

Copyright @ 2010-2019 Easykobo.com by Naija infotech & solar energy ltd. All rights reserved