Financial authorities say Fed's rate hike to have limited market impact
The U.S. Federal Reserve's decision to raise its key rate for the first time in more than three years to combat inflation is expected to have a limited impact on financial markets as expectations of the move had already been priced in, financial authorities said Thursday. The assessment was made during a meeting chaired by Finance Minister Koo Yun-cheol and attended by Bank of Korea (BOK) Gov.…
During a Thursday meeting chaired by Finance Minister Koo Yun-cheol, financial authorities gathered to discuss the impact of the U.S. Federal Reserve's decision to raise its key interest rate for the first time in over three years. The participants, which included Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon, and Financial Supervisory Service Governor Lee Chan-jin, assessed that the market impact of this rate increase would be limited, as the expectation of the move had already been priced in by market participants.
The Federal Reserve lifted its benchmark rate by a quarter percentage point, bringing the target range to 3.75-4.00 percent, signaling further potential rate hikes later in the year to combat persistent inflation and high oil prices.
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