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Reuters
IMF says emerging economies must prepare for Fed policy tightening
Emerging economies must prepare for U.S. interest rate hikes, the International Monetary Fund said, warning that faster than expected Federal Reserve moves could rattle financial markets and trigger capital outflows and currency depreciation abroad. It said a gradual, well-telegraphed tightening of U.S. monetary policy would likely have little impact on emerging markets, with foreign demand offsetting the impact of rising financing costs. “Emerging economies should prepare for potential bouts of economic turbulence,” the IMF said, citing the risks posed by faster-than-expected Fed rate hikes and the resurgent pandemic.
