Chinese official think tank researcher says disruption from U.S. rate hike likely limited

Image
Reuters SHANGHAI
Last Updated : Dec 17 2015 | 8:28 AM IST

SHANGHAI (Reuters) - The Federal Reserve's decision to raise benchmark interest rates is unlikely to cause major disruption to the world economy because it was widely expected, a senior researcher an official Chinese think tank said Thursday.

The comments by Zeng Gang, director of the Chinese Academy of Social Sciences banking research division, were cited in an article on the website of the official People's Daily newspaper Thursday morning.

On Wednesday, the U.S. central bank decided to raise benchmark rates for the first time since the global financial crisis, in a decision broadly telegraphed over the past several weeks.

(Reporting By Nathaniel Taplin; Editing by Sam Holmes)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 17 2015 | 8:13 AM IST

Next Story