An economist says the decision by the US Federal Reserve to push its benchmark interest rate by another quarter percentage point will impact on the Barbados Government’s finances.
The rise, the 10th hike since March 2022, pushed its benchmark rate to between 5 and 5.25 percent – up from near zero in March 2022.
The Federal Reserve signalled that Wednesday’s rise may be its last one for now.
Professor Justin Robinson, Pro Vice-Chancellor of the Board of Undergraduate Studies at the University of the West Indies, Cave Hill Campus weighed in on the developments in the US on CBC TV8’s Morning Report.
He says if Government has to pay more on debt services, this will likely impact the average citizen.
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