EBRD Sees Limited Impact for Fed Rate Rise

Eastern Europe, western Asia and North Africa will remain largely unaffected, bank says

The U.S. Federal Reserve’s decision to raise its short-term interest rates for the first time in almost a decade will have a limited impact on economic growth in Eastern Europe, western Asia and North Africa, with Turkey likely to suffer most, the European Bank for Reconstruction and Development said Friday.

The development bank said the Federal Reserve’s rate increase may inspire an outflow of capital from the 37 countries.