Tenon says expected US interest rate hike will have short-term impact on housing activity

Wed, 02 Dec 2015

By Fiona Rotherham Dec. 3 (BusinessDesk) - The first US interest rate rise in nine years, expected later this month, is only likely to cause a short-term slowdown in the recovering house construction market, shareholders of Tenon, which sells wood mouldings in the US, have been told. Federal Reserve chair Janet Yellen strongly indicated yesterday she would support raising rates when the US central bank meets on Dec 15-16 due to on-going gains in the labour market and because longer-term inflation expectations remain “well anchored”. Sp...

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