Commentary

Global interest rates set to rise along with market volatility

The first interest rate hike can be expected in December 2022, followed by more hikes in March and September of 2023.PHOTO: AFP

SINGAPORE - The latest message from the United States Federal Reserve is crystal clear - asset purchase tapering will be sooner and faster than previously thought and interest rates could rise next year.

At the Federal Open Market Committee (FOMC) press conference last week, Fed chairman Jerome Powell said the start of the tapering could "come as soon as the next meeting" and "could conclude around the middle of next year".

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