We Love You Bernake!
Okay, I was wrong. Bernake, the chief of America’s Federal Reserve, announced that the interest rate will only increase by 25 basis point, lower than the expected hike which is 50 basis point. This gives a clear signal to the market that things might going good. To add to that, he also delayed the interest hike for the month of August (the more the merrier!).
This is actually the opposite of what he said in the news several days ago that he will increase the interest rate 50 basis point if the oil price breaks the $70 barrier. Well I don’t care as long as it gives a good signal to the market ;-)
