The increase in US interest rates has been initiated after the Fed chairman's statements last Wednesday.
Jerome Powell said the first Fed rate hike since 2018 may be announced in March, and did not rule out the possibility of further hikes at the central bank's next six meetings in 2022 to address inflation running at an annual rate of 7% in the US.
The prospect of US rate hikes is already having an impact on financial markets, with stock prices falling and bond yields rising.
(CNA)
CNA
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