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
New: Gift this subscriber-only story to your friends and family

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".

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.