Soaring Oil Prices Put Fed on Track for September Rate Hike ...Middle East

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Soaring Oil Prices Put Fed on Track for September Rate Hike
source : OILPRICE ( Middle East ) () 48
The recent spike in crude oil prices will likely result in a fresh rate hike by the Fed this week, according to data from CME Group, cited by The National today. As much as 90% of respondents from trading circles expect a rate hike of 25 basis points, after last week, the European Central Bank hiked interest rates by the same amount. “The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period,” the ECB said in its decision. “People are finally…

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