1. 1. first time (in 10 years)
   1. US Federal Reserve = increasing interest rates
   2. 0,25 % to 0,5 %
2. 2. money value
   1. for a decade
   2. argument money = too cheap
3. 3. new era
   1. increase interest rates
   2. boost cost of borrowing
   3. during years
4. 4. for the US economy
   1. rate rise = sign of confidence
   2. -5 % unemployment
   3. annual growth rate at 2,1 %
   4. health indicators
5. 5. for the US economy
   1. emergency level
   2. benchmark = 5,25 % to 0 %
   3. 0,25 = stop recession
6. 6. for the US economy
   1. high times rates = prevent big borrow =prevent bubbles => house market
   2. companies which have borrow = impossible reducing debts
   3. fracking firms (oil, gas) = investors investigations
   4. possibility = falling price oil
7. 7. US consumers
   1. 0,25 % interest rates = not much effect short term
   2. households = less in debts 5% under 2008 numbers
   3. less interest for credit = 30 years for reimbursement
8. 8. US consumers
   1. low interest rates
   2. = + house prices
   3. = + car sales
   4. = expansion debt credit card
9. 9. emerging markets
   1. countries developing economy = China & Brazil
   2. pain companies and countries = increase debt in $
   3. income local money = + expensive when dollar +
10. 17. UK economy
    1. Bank of England follow Fed ; risk Euro rise
    2. = bad for British exporters
    3. European Union = biggest market British goods
11. 16. UK economy
    1. interest rates = not own decision
    2. The Fed now = higher = easy rise interest rates for Bank of England
    3. UK economy better condition vs US
12. 15. currency markets
    1. effect strength dollar
    2. = earning reports US company
    3. = weaker profits
    4. = exports less competitive (international market)
13. 14. currency markets
    1. sensitive = movement interest rates
    2. anticipation = increase dollar price 4 %
    3. economists doubts = strength dollar
14. 14. Africa view
    1. low oil price
    2. = affect national budgets
    3. Nigeria & Angola
15. 13. Africa view
    1. " hot money " = return decent rate = return billions into Africa
    2. Africa governments = responsible someone else
    3. goal = reduce capability reimbursement debts
16. 12. Africa view
    1. increase Federal Funds rates
    2. Africa's central banks rise rates = limit expansion economy
17. 11. emerging markets
    1. bad time emerging economy
    2. = export commodities
    3. = - price oil, metals, agriculture
    4. borrowing costs vs agriculture fall
18. 10. emerging markets
    1. affect investors = view risk
    2. emerging companies & governments = difficulties attract investment = difficulties refinance debts