U.S. Federal Reserve Raises Rates In Historic Decision

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Translated by Ollie Richardson for Fort Russ

17th December, 2015


(Article published before Putin’s conference)


mk.ru

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The Fed expectedly raised the base rates to 0,375%. This is the first increase in 10 years, which could lead to the collapse of the Russian currency.

The open market Committee of the Federal reserve system (FRS) the USA has raised the benchmark interest rate to 0,375% per annum with a record low of 0-0,25%. The rate rises from 17 December.It is worth noting that this is the first increase since June 29, 2006.

Earlier analysts predicting a rate hike from the Federal reserve Board, predicted in this regard, a stronger dollar, cheaper oil and the sharp fall of the ruble. However, after this promised there was some bounce back.

Economist Ruslan Grinberg told us that President Putin at a big press conference on Thursday could give the Central Bank a signal of temporary stabilization – we’ll know soon whether this will happen. In any case, citizens in the exchange offices  will have some surprises – one consolation is that the change to Russians is nothing special.

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