SINGAPORE (Oct 1): The buzz phrase on investors’ lips this week is likely to be “interest rate hikes”, after the US Federal Reserve on Sept 26 lifted the benchmark overnight lending rate for the third time this year. The latest quarter-point increase brings the federal funds rate to a new range of 2% to 2.25%. Policymakers at the US central bank foresee another rate hike in December, followed by three more next year. However, US President Donald Trump criticised the Fed’s decision, declaring that he was “not happy” with higher rates.

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