Fed rate hike unlikely this month, analyst says

MANILA - The US Federal Reserve is unlikely to raise interest rates in its next policy meeting on September 21, an analyst said Monday.

"There is still no consensus that they will raise interest rates come September 21, but the mere prospect of higher interest rates seems to be spooking the markets," Nicky Franco, head of research at Abacus Securities, told ANC's "Market Edge with Cathy Yang."

Strong job growth in August, however, is one of the factors that may push the Federal Reserve to increase interest rates this year, Franco said.

The banking sector is seen to gain from higher interest rates, he added.

source: www.abs-cbnnews.com