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THE US Federal Reserve has finally hiked rates, but don’t panic.
It’s good news for Australia, and the Reserve Bank isn’t going to rush to raise rates just yet, economists say.
“The resumption of Fed rate hikes is a sign the world’s biggest economy is doing well,” AMP Capital chief economist Dr Shane Oliver wrote. “To the extent that the Fed’s interest rate hike signals a stronger US, it’s good for Australia. It doesn’t signal that the RBA will soon follow and hike next year, though.”
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Source: istock