The US Federal Reserve is still contemplating if the global markets and economy have stabilised or not and that has caused the central bank to meet on Monday, says Bruno Verstraete, Partner at Lakefield Partners.
Speaking to CNBC-TV18, Verstraete says the Fed hiking the interest rate will be for a good reason, adding, if it does not, the economy still needs recovering. However, there is nothing to panic at this stage, he adds.
Furthermore, he says foreign exchange rate is the most influential factor in determining the flows and equity moves, which is further causing volatility in the markets everywhere.
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Source → Forex rate determining flows, equity moves: Lakefield Partners