The US Federal Reserve on expected lines raised key interest rates by 25 bps on Wednesday and guided for a gradual increase. It will be extremely beneficial to the emerging markets which were fearing a more hawkish stance.

The Fed increased the interest rate by 25 basis points to a range of 0.75 percent to 1.00 percent on strong macroeconomic data and confidence in inflation which is rising to central bank’s target.

“This is an excellent scenario for emerging markets. We did not get an acceleration of rate increase which the people feared could happen from Fed meeting.”

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