(AP Photo/Manuel Balce Ceneta)
Since the financial crisis of 2008, the Fed has taken steps to reduce rates, in an effort to stimulate borrowing and economic growth. Recently, though, Fed Chairman Ben Bernanke signaled that the central bank could scale back its efforts.
In a shift, interest rates are on the rise
Economy » Prospect of higher borrowing costs sends markets into a spin.
By NATHANIEL POPPER
and PETER EAVIS
| The New York Times
First Published Jun 12 2013 05:49 pm • Last Updated Jun 12 2013 09:49 pm
This article cannot be shown due to contract restrictions.
For governments worldwide, a rise in rates will eventually push up their borrowing costs at a time when many are wrestling with fiscal deficits. Some will be able to take a steady increase in stride, analysts say, but a jarring wave of selling has hit certain bond markets in Latin America and Europe, pushing up borrowing costs.
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