A rise in U.S. interest rates tomorrow is so confidently expected by nearly everyone that a failure to hike rates would shock world markets.
In his first official press conference since taking over for Janet Yellen, Federal Reserve chair Jerome Powell is expected to set the direction for interest rate increases this year and into the more distant future.
What he says will matter to investors around the world. It will also matter to Canadian borrowers.
One reason market watchers are so confident Powell will raise the key U.S. federal funds rate from 1.5 to 1.75 per cent, with a target of three per cent by 2020, is that he wants to demonstrate continuity of purpose at the Fed despite the ejection of Yellen after a single term.
Read full story here: Heavily Indebted Canadians Need To Watch U.S. Interest Rate Announcement: Don Pittis – Business – CBC News
