By Commodity News Service Canada
WINNIPEG, December 17 – The following is a glance at the news moving markets globally.
US FED INTRODUCES RAISE HIKE
The US Federal Reserve has introduced an interest rate increase for the first time in almost ten years.
On Wednesday the Fed announced the 0.25 per cent increase, adding that the US economy has seen significant recovery from previous economic turbulence.
STATISTICS AGENCY SAYS BRAZIL HAS ‘NEGATIVE OUTLOOK’
On Wednesday Fitch Ratings Inc. cut its outlook for Brazil’s sovereign debt to speculative, also known as junk, according to reports out of the country.
Brazil’s downgrade reflects the economy’s deeper recession than previously anticipated, continued adverse fiscal developments and the increased political uncertainty that could further undermine the government’s capacity to effectively implement fiscal measures to stabilize the growing debt burden, Fitch said in a press release.
PEOPLE’S BANK OF CHINA EXPECTS GROWTH TO SLOW
China’s GDP growth is likely to slow to at least 6.8 per cent in 2016, the People’s Bank of China said in a report.
The report names manufacturing overcapacity and new monetary policies as challenges to economic growth next year.