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Business Daily: Fed Rate Decision: No Surprises?

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16/12/2015 GMT

Fed Rate Decision: No Surprises?

BBC World Service - Business Daily, Fed Rate Decision: No Surprises?

The US central bank, the Federal Reserve, is expected to start raising interest rates.

The Federal Reserve is widely expected to start raising interest rates at its meeting today, the first increase in almost ten years, making it more expensive to borrow.

It's set to be a momentous day for the global economy with the US central bank, the Federal Reserve, widely expected to announce a rise in interest rates after keeping rates at or near zero for seven years. The BBC's Michelle Fleury hears from businesses in New York about how the expected rate rise will affect them. Randy Kroszner, economics professor at the University of Chicago Booth School of Business and a former governor of the Federal Reserve System from 2006 until 2009, tells us how Fed meetings deciding on rates are conducted. Also, Andrew Wilson, chief executive of Goldman Sachs Asset Management International, talks about the global impact, and Ramon Aracena, chief economist for Latin America at The Institute of International Finance, tells us why Latin American central bankers just want the rate rise over and done with.

(Picture: Federal Reserve Chairman Janet Yellen; Credit: Mark Wilson/Getty Images)

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