12:01 – 27/09/2018
Reuters) – Economist Dr. Salam Smisem called for a quick stance to give reassuring signals to the public that the Federal Reserve’s decision to raise the interest rate by a quarter percentage point would leave its impact on the world’s economies.
Smsem, a member of a successful economic development initiative, said Iraq should “take a quick stance, especially as it invests in US Treasury bills.”
“The Iraqi Central Bank demands a quick position that gives reassuring signals to the street.”
“In light of the repercussions of the recent steps of the US Federal Reserve to raise interest rates between two and 2.25 percent, and the global economic repercussions that result from it. It is known that Iraq is the fourth largest country of the world invested in US Treasury bills, the Central Bank of Iraq must issue a statement Urgent clarifies the steps that will follow the monetary policy in Iraq on interest rates and related to this decision. ”
The Federal Reserve later raised the benchmark overnight lending rate by a quarter percentage point to a range of two to 2.25 percent.
Gold prices fell immediately on Wednesday as the dollar rose ahead of the Federal Reserve’s monetary policy meeting, which was later announced after the futures contract was settled.
Gold is sensitive to higher interest rates because it strengthens the dollar, which makes gold more expensive for its buyers than other currency holders. It also raises the yield on US bonds, which reduces the attractiveness of unearned gold to yield.
The central bank said it would discuss Thursday the impact of the Federal Reserve’s decision to raise interest rates. The central bank said it would raise interest rates by 25 basis points.
The Central Bank of Saudi Arabia and the Central Bank of UAE also decided to raise interest rates by 25 basis points after the decision of the Federal Reserve.
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