World Bank latest to urge Fed to hold rates until 2016.

11.06.2015 / 14:06

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Тhe World Bank has become the latest global organization to urge the U.S. Federal Reserve to delay raising interest rates until 2016, amid growing expectations.

The financial institution said on Wednesday that keeping rates at record lows would help avoid the kind of financial market volatility witnessed during the "taper tantrum" of summer 2013. Strong jobs data in the U.S. have boosted expectations that September may be the month when the Fed raises interest rates for the first time in nine years.

Franziska Ohnsorge warned that developing country capital flows could be hit after a rate hike.

The World Bank's warning comes after the International Monetary Fund (IMF). "Based on the mission's macroeconomic forecast, and barring upside surprises to growth and inflation, this would put lift-off into the first half of 2016," the fund said in its annual assessment of the world economy.

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World Bank latest to urge Fed to hold rates until 2016.

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