Emerging Market Sell-off Worsens, More Pain Ahead

Wochit 0:52 mins

Heavy selling engulfed emerging markets again with more currencies falling prey to fears of higher global borrowing costs and a reduction in cheap cash supplies from the United States. Only a few Federal Reserve policymakers thought it would soon be time to "slow somewhat" the pace of the central bank's bond-buying at a meeting last month, while others emphasized patience in deciding when to start to wind down the stimulus program. The U.S. Federal Reserve is considering a new tool to help it drain cash from the banking system and keep short-term interest rates at their targeted level when it decides to shift away from its current ultra-loose monetary policy

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