Friday 9 December 2016

Why the US interest rates hike will be good news for Irish exporters

Published 17/12/2015 | 02:30

Women pose for a photograph next to a homeless man outside Moynihan Station in New York. The US Federal Reserve has increased interest rates for the first time in almost a decade. Photo: Reuters
Women pose for a photograph next to a homeless man outside Moynihan Station in New York. The US Federal Reserve has increased interest rates for the first time in almost a decade. Photo: Reuters

The 21st century has been of two halves economically. Before the western world's financial mega bubble burst in 2007-08, things were much as they had been for decades - decent if unspectacular rates of growth in most countries, near continuous increases in the numbers at work and, when recessions struck, they were short and shallow.

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Then came the Great Recession. The developed world has not returned to its past normality, nor even found a new normal.

Two big things illustrated that this week - employment in Europe and interest rates in America.

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