Monday, October 12, 2015

Interest Rate Hike 2015: China Warns Against Federal Reserve Increase Because Of Critical Dollar

The United States shouldn't raise interest rates to avoid hurting developing nations dependent on the U.S. dollar, China's finance minister said. Lou Jiwei said the dollar remained critical to the global economy.

"The United States isn't at the point of raising interest rates yet, and under its global responsibilities, it can't raise rates," Lou said in an interview published in the China Business News Monday. He spoke during the annual meeting of the World Bank and International Monetary Fund in Lima, Peru.

Read more... http://www.ibtimes.com/interest-rate-hike-2015-china-warns-against-federal-reserve-increase-because-critical-2137506?ft=w18y0

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