Comments on Fed hike
Kerim our CEO, has been quoted on the topic of the US interest rate increase on The Telegraph’s live business blog (12.15pm)
Here’s the quote
“It has been a long time coming, but all signs are pointing to The Fed raising rates and they are is unequivocally right to do so. The last time rates were hiked a year ago – only the second raise since 2006 – the consensus was that 2016 would be the year of multiple rises, but no one could have foreseen the domestic and global upheaval that took place.
“Yet now, even without the prospect of a strong fiscal expansion in a Trump presidency, the US economy is showing signs of sustained strength. Unemployment remains low at 4.6%, and the impact of wage pressure is beginning to feed into inflation.
“If energy prices stay at the current high levels, that will also contribute to sustained inflationary performance. For the first time in eight years of economic under performance, we are starting to see real-growth emerging from the United States.”