Chinese finance minister: U.S. shouldn’t raise rates yet

It is not yet a good time for the United States to hike its interest rates as the global economy is still sluggish, said Chinese Finance Minister Lou Jiwei over the weekend at the International Monetary Fund’s annual meeting, according to a South China Morning Post report.

“The U.S. should bear more global responsibility and is not yet in the condition for an interest rate hike,” Jiwei said, according to the report, which said his comments indicate Beijing’s unease about the impact that the move might have on the Chinese economy.

Jiwei’s comments differ from remarks made at the IMF meeting by other emerging-markets officials, who urged the U.S. Federal Reserve to stop dithering on rate hikes.

Source: MarketWatch