Central Bank

: The fund rate has remained at the zero level since 2008 to stem the fallout from the international financial crisis and the great depression in the US. Since last year, however, the central bank has been flagging a likely first rate hike sometime this year, with eyes now on the September 16-17 policy meeting for a possible move, according to Deutsche Welle. Wiggle room But Murray pointed out that US inflation and wage pressures, two key barometers for a Fed decision, "remain muted." That would mean, he said, the bank "can afford to hold interest rates low until there are more tangible signs of wage or price inflation than are currently evident." Should the Fed, nevertheless, chose to move on rates, he urged the bank to be clear about its policy intentions because this was "critical" to allow countries around the world to adjust. But he suggested there was still time to wait before taking the first step. "The situation globally is pretty bumpy," he added. 0:00:00 0:00:00US Fed hints at interest rate hike The US Fed is currently considering increasing its benchmark interest rate for the first time since 2006. The prospect of a slow series of rate rises in the United States has already unleashed capital outflows from emerging economies and helped send their currencies tumbling. Coming ahead of a G20 finance ministers' and central bankers' meeting in Turkey, the report said: "Risks are tilted to the downside, and a simultaneous realization of some of these risks would imply a much weaker outlook." Amid the uncertainty, the IMF has already lowered its global growth forecast for 2015 to 3.3 percent, adding that it expects China economic output to expand by no more than 6.8 percent this year. Cocktail of risks In an assessment of global economic risks published on Thursday, the Washington-based fund also named a strengthening US dollar, falling commodities' prices and a slowdown in China economy as dangers to global growth. (news.financializer.com). As reported in the news.