Daily News | Lifting the interest rates

New York Fed president William Dudley made a comment on Tuesday about the chances of lifting interest rates by the United States central bank. As expected, markets responded immediately. According to some sources, Dudley said that it was possible to hike rates at the next policy meeting that is going to happen on Sept. 20-21. He highlighted that inflation needs to be carefully monitored in the following months and as a result, the chances of a lifting of interest rates increased and now they are at 18%. As for the dollar, after the overnight fall to 99.550 JPY, it rose to 100.530 JPY. Dudley’s statement is partly derived from the U.S. Bureau of Labor Statistics’ report, with numbers saying that the consumer inflation has been rising during the previous 12 months. Food prices didn’t change much, but industrial output grew, and so did the home building sector. Millan Mulraine, one of  TD Securities’ top economists, said that  housing and industrial output are the main reasons why the Fed confidence that growth momentum has rebounded is rising. However, he too warns about the inflation and advises caution in the near future 

There are also some interesting news from Latin America. The Mexican peso keeps rising, and it has now reached its highest level in the last couple of months. Only this month the peso rose more than 3.5 percent, and its current value is 18.056 per USD. The Brazilian real, on the other hand, fell to 3.1940 per dollar.

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