“This has been the most anticipated and watched Fed move for a while. It comes at a time when emerging markets especially BRIC countries are showing signs of vulnerability. Yet very rarely have been market participants been so split on their view of which way the Fed should move.
“We believe that, considering the underlying improvement in US and European economy, the Fed is likely to raise the rates but it will be followed by a dovish statement whereby any further increases will be determined by the strength of the global market. This should soothe the nerves of the market participants”, Mr Kapadia added.