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Rand may be resilient to potential Fed hikes

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Federal Reserve chairperson Janet Yellen. (Chip Somodevilla, AFP)
Federal Reserve chairperson Janet Yellen. (Chip Somodevilla, AFP)

Johannesburg – Potential rate hikes by the Federal Reserve Bank (Fed) this year may not have a big impact on emerging markets and the local currency, according to Sanisha Packirisamy, economist at Momentum Investments (MMI).

In a report on the economic outlook for 2017 released on Thursday, Packirisamy highlighted that the Fed is expected to increase interest rates three times this year. However, MMI expects fewer hikes. Projections indicate the Fed may also introduce three hikes in both 2018 and 2019.

READ: Fed forecasts 3 more hikes in 2017

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