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By Marios Maratheftis, Standard Chartered Bank
How worried should you be when the US Federal Reserve goes ahead with its first interest rate hike? After all, following years of close to zero policy rates and three rounds of quantitative easing, this will be a significant change in policy.
Financial markets do not appear too concerned. One could even say that they are being complacent. Nevertheless, the usual commentators are once again stating that Fed hikes will bring end of the world and emerging markets.
So who is right, the complacent markets or the doomsayers? We think neither.
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